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Centuria REITS Cap Off Transformational Year - 1H18 CMA Results

Centuria Property Funds Limited (CPFL) as Responsible Entity of Centuria Metropolitan REIT (ASX:CMA) is pleased to announce CMA’s results for the half financial year ending 31 December 2017.

Financial highlights

• Statutory net profit of $39.2 million
• Distributable earnings of $19.9 million representing 9.4 cents per security (cps)
• Quarterly distributions paid during 1H18 to securityholders of 9.05 cps
• Increased net tangible assets (NTA) to $2.39 per security, up 7 cps or 3.0% from 1H17
• Disciplined gearing of 29.6%, within target range
• Inclusion in the S&P/ASX 300 A-REIT index from September 2017
• 12 month total return of 20.9% outperforming S&P/ASX 300 A-REIT Index at 6.4% as at 31 December 2017

Operating highlights

• Strong leasing activity with 20 lease transactions across 9,234 sqm over 1H18
• FY18 lease expiries of 1.2% provide solid earnings visibility for remainder of FY18
• Increase in portfolio valuations to $899.7 million since the end of 1H17
- Like-for-like total portfolio increased by $41.6 million, or 7.0%
• Weighted average capitalisation rate (WACR) firmed to 6.87% (44bps) from 1H17
• Strong weighted average lease expiry (WALE) of 4.3 years
• Acquisition of four high quality, fully occupied assets totaling $210.9 million
• Average NABERS energy rating of 3.8 stars

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