Acquisition, leasing success drives 95% profit growth, 17% ROE
Positive portfolio revaluation and strategic acquisitions result in transformational year as demand for Australian industrial property increases
Centuria Property Funds No. 2 Limited (CPF2L) as Responsible Entity of Centuria Industrial REIT (ASX:CIP) today announced full-year financial results to 30 June 2018, topping off a year with a significant uplift in portfolio valuation and a 17% return on equity (ROE) for investors.
FY18 highlights include:
• Distributable earnings (EPU) of 19.5 cents per unit (cpu) and distribution (DPU) of 19.4cpu, in line with guidance
• Statutory profit up 95% year on year from $50.8 million to $98.9 million
• 17.2% return on equity
• Total assets increased by 19%, from $921 million to $1.1 billion
• Record leasing volumes, with more than 238,000sqm leased
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