Financial Metrics

For the  year ended 31 December 2018:

  • Distribution of 8.0 cents per Unit (“cpu”), an increase of 6.0 per cent on the previous corresponding period (“pcp”);
  • Distributable income of $21.2 million, an increase of 1.0 per cent on pcp;
  • NTA per Unit of $2.87, an increase of 3.2 per cent from $2.78 per Unit at 30 June 2018;
  • Statutory profit of $42.2 million, a decrease of 23.8 per cent from $55.4 million on pcp due to lower property revaluation increments in this period; and
  • Debt facility of $347.0 million refinanced in August 2018 resulting in weighted average debt maturity increasing from 2.4 years at 30 June 2018 to 4.6 years at 31 December 2018.

Key Financial Metrics

Income For the The Half Year Ended 31 December  2018 2017 % Change
Statutory Profit ($m) 42.2 55.4 (23.8)
Distributable Income ($m) 21.2 21.0 1.0
Earnings Per Unit – EPU (cpu)1 8.3 8.3
Distribution Per Unit – DPU (cpu) 8.0 7.55 6.0
1 Distributable income divided by weighted average number of units.
Balance Sheet As at Dec 18 June 18 % Change
Total Assets ($m) 1,082.6 1,029.4 5.2
Investment Properties ($m) 1,036.3 985.5 5.1
Borrowings ($m) 324.2 300.0 8.1
NTA per Unit ($) 2.87 2.78 3.2
Gearing (%) 29.9 29.1 0.8
1 Distributable income divided by weighted average number of units.

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