Strengthening industrial markets drive strong half-year results, says CIP
Centuria Property Funds No. 2 Limited (CPFL2), 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 2018.
1H19 financial highlights include:
• 1H19 Statutory profit of $46.1 million
• Distributable earnings of $23.3 million
• 12-month Return on Equity (ROE) of 15.8%
• Balance sheet gearing reduced to 37.0%
Portfolio highlights:
• Leases agreed for more than 65,900sqm, representing 8.2% of portfolio GLA
• Occupancy increased to 97.1% with a WALE of 4.7 years
• Portfolio value increased to $1.2 billion
• $168.6 million of transactions to improve portfolio quality
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