Financial Metrics

For the half year ended 31 December 2017:

  • Statutory profit of $55.4m, down 19.9% on pcp:
    • distributable income of $21.0m, an increase of 12.3% on pcp
    • property acquisitions and rental growth have grown lease income by $2.0m or 7.2% on the pcp
    • interest capitalisation on development sites of $1.1m resulting in interest saving of $0.4m
    • expense growth of 5.8% due to increase in portfolio size
    • yield compression and rental growth combine to contribute $33.9m in property revaluations
  • HY18 distribution of 7.55 cents per unit, an increase of 6.3% on pcp

Key Financial Metrics

For the Half Year Ended 31 December 2017 2017 2016 % Change
Statutory Profit ($m) 55.4 69.1 (19.9)
Distributable Income ($m) 21.0 18.7 12.3
Earnings Per Unit – EPU (cpu)1 8.3 7.5 10.7
Distribution Per Unit – DPU (cpu) 7.55 7.1 6.3
1 Distributable income divided by weighted average number of units.
As at June 17 June 16 % Change
Total Assets ($m) 903.3 753.6 19.9
Investment Properties ($m) 861.2 719.5 19.7
Borrowings ($m) 249.9 200.4 24.7
NTA per Unit ($) 2.51 2.14 17.3
Gearing (%) 27.7 26.6 1.1
1 Distributable income divided by weighted average number of units.

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