Growthpoint Properties Australia Ltd (ASX:GOZ) has posted its 1H FY17 results, and here are some highlights:
- The company’s NPAT fell 9.4% to $113 million.
- However, it had solid earnings growth, with distributable income of 12.5 cps – which is a 16.8% gain over the prior corresponding period, and
- The company declared a 1H17 interim distribution of 10.6 cps – which is up 3.9% over the previous interim distribution.
Growthpoint also says its six month total return was 7.5% compared to a sector return of -2.6%.
Finally, Growthpoint has upgraded its FY17 earnings and distribution guidance by 4.9% to 21.5 cps, following the completion its takeover and full integration of the GPT Metro Office Fund.