BWP’s net profit falls, distributable profit & distributions rise

Company News

by Jessica Amir

BWP (ASX:BWP) has reported its net profit fell to $223.8 million for the financial year ending 30 June 2017, compared to its stronger $310.5 million net profit in FY16.

The real estate investment trust, that’s known for leasing properties to Bunnings says its distributable profit, excluding revaluations, firmed higher to $112.5 million.

Its total revenue rose over $2 million to $152.5 million in FY2017 mainly due to rental growth.

Meantime, BWP’s full year distribution per security rose to 17.51 cents per unit.

Shares in BWP (ASX:BWP) are trading 2.03 per cent lower to $2.89.

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