GPT Group (GPT.AX, GPTGF.PK) reported that its funds from operations or FFO for the six-month ended 30 June 2024 declined to A $309.1 million or 16.14 cents per security from A$316.7 million or 16.53 cents per security in the previous year.
Adjusted funds from operations (AFFO) were A$258.4 million compared to A$265.8 million in the prior year.
Net loss after tax for the latest period was A$249.4 million, with investment property valuation declines of $566.8 million. This compared to net loss of A$1.1 million in the prior year.
GPT has declared a distribution for the six months ended 30 June 2024 of 12.0 cents per security. The distribution payment will be made on 30 August 2024.
GPT continues to expect to deliver 2024 FFO of approximately 32.0 cents per security and a distribution of 24.0 cents per security.
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