Property investor GPT Group
(ASX:GPT) has boosted its earnings guidance to at least 6 per cent earnings per share growth this year.
The company also expects to maintain a distribution payout ratio of 80 per cent of realised operating income as it targets an extra $10 billion in funds under management.
GPT Group says its core portfolio strategy is to remain diversified and strive for a flexible and tactical approach to sector weightings.
CEO and Managing Director Michael Cameron says the funds under management target is ambitious but achievable with the company’s funds already having grown to $7.2 billion.
Mr Cameron has also advised GPT will maintain a disciplined approach but has the ability to execute investment opportunities as they arise.
GPT Group’s net profit dipped 7 per cent to $257 million in the first half of 2013.
