BWP Trust profits increase

Company News

by Kathy Skantzos

Real estate investment trust BWP Trust (ASX:BWP) has reported a jump in net profits to $103.3 million for the half year to 31 December 2017.

Distributable profit increased 1.7 per cent to $56.4 million.

The REIT says the increase in profit is due to increased property revenue from higher rental income.

In more good news for the company, its revenue from ordinary activities strengthened over the 2017 financial year and lifted 2% on the previous year to $76.9 million.

The company declared an interim distribution of 8.78 cents per share, an increase of 1.7 per cent compared with the previous year.

Shares in BWP Trust (ASX:BWP) are trading 1.22 per cent higher at $2.92.

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