Goodman Group (GMG.AX) reported profit attributable to securityholders of A$799.8 million or 40.9 cents per security in the half year ended 31 December 2024 compared to a loss of A$220.1 million or 11.6 cents per security in the same period last year. Operating earnings per security was 63.8 cents up from 59.2 cents in the previous year. Revenues for the period grew to A$1.339 billion from A$1.070 billion in the prior year.
The Group's interim distribution has been maintained at 15 cents per security and will be paid on 25 February 2025. The distribution will be paid by Goodman Industrial Trust, with no dividends declared by Goodman Limited and GLHK during half year of 2025. The distribution reinvestment plan was not in operation during the half year.
The Group maintained its 9% Operating earnings per security growth forecast for fiscal year 2025, which includes the impact of the issue of new securities under the Equity Raising. Operating earnings per security growth guidance would have been increased to 10% had the Equity Raising not occurred.
Goodman is raising A$4.0 billion through a fully underwritten 'pro-rata' institutional placement and will undertake a non-underwritten Security Purchase Plan (SPP) for eligible Securityholders to raise up to A$400 million. The Placement price of A$33.50 per security represents a 6.9% discount to Goodman's closing price of A$35.98 on 18 February 2025.
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