Centuria Property Funds No. 2 Limited (CPF2L), as Responsible Entity of Centuria Industrial REIT (ASX:CIP) is pleased to announce CIP’s half year financial results for the period ended 31 December 2017.
Key Highlights
• Statutory net profit of $49.6 million
• Distributable earnings of $24.2 million representing 10.1 cents per unit (“cpu”)
• Distributions of 9.7cpu paid in 1H18
• Total assets increased 16.7% to $1,075.0 million, with NTA increasing by 4.7% to $2.46 per unit
• Continued to deleverage with gearing reduced to 40.6% (43.1% at Jun-17)
• Agreed leases over 159,502sqm; representing 20.8% of portfolio GLA
• Portfolio occupancy increased to 95.9% (92.1% at Jun-17), with a 4.9 year WALE
• $31 million revaluation gain, driven primarily by leasing success
• Acquisition of 7.7% strategic interest in Propertylink Group
• Acquisition of four strategic, geographically diversified properties for $78.4 million before transaction costs.
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