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 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.