This article is from the Australian Property Journal archive
GROWTHPOINT Properties Australia has chalked up a distributable income of $61 million for the first half year, up 7.6%.
The group’s statutory profit was $125.8 million, a 11.3% due to a smaller increase in property valuations.
Growthpoint achieved its distribution guidance of 10.2 cents per stapled security, reflecting a 4.1% increase.
“In HY16, Growthpoint delivered a 1.6% total Securityholder return. The total securityholder return for the 12 months and five years ended 31 December 2015 was, respectively, 16.7% and 18.1% per annum,” managing director Timothy Collyer said.
Collyer said the focus for Growthpoint in the short to medium-term remains the continued growth and diversification of the property portfolio via M&A transactions, direct property acquisitions and fund through developments.
“Subject to current conditions continuing, the board and management continue to be confident of Growthpoint’s investment strategy and prospects for continued growth in distributions and value,” he said.
Distribution guidance for FY16 remains 20.5 cents per stapled security.
Australian Property Journal
