Mirvac on track for 2-4% EPS growth in FY19

Company News

by Jessica Amir

Real estate group Mirvac Group (ASX:MGR) advised its retail and industrial property portfolios and sales are tracking as expected in the first quarter of the 2019 financial year.

It re-affirmed its operating EPS guidance of between 16.8 to 17.1 cents per share in FY19, which is an increase of 2-4 per cent compared to the prior period.

It also reiterated its dividend per share growth of 5 per cent with a distribution of 11.6 cents per share.

By FY21 it will have one of Australia’s youngest and lowest capex office portfolios, which it says is an important differentiator. In addition, it says its recent office and industrial acquisitions in Sydney, Melbourne and Brisbane will deliver value for shareholder value in the future. 

Shares in Mirvac Group (ASX:MGR) are trading 1.11 per cent higher at $2.27.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.