Capitalising on opportunities to create value and deliver outperformance
56% increase in Net Profit to $158.7 million;
11% increase in Operating Earnings per unit to 22.4 cents;
3% increase to NTA to $3.23 per unit.
Leased over 32,000sqm of space nationally;
Maintained high occupancy of 96%;
External revaluation uplifts of $59 million, a 5% uplift on prior book valuations;
Acquisitions outperforming expectations;
Only circa 1.5% of FY14 rent is at risk.
Weighted average debt maturity increased to 3.22 years from 2.4 years;
Maintained conservative gearing of 29.4%;
Leveraged S&P BBB+ credit rating to raise $250 million in debt capital markets at an average margin of 193bps and average debt maturity of 8.6 years;
Refinanced $150 million of bank debt.
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