Goodman Group reports $44.1 billion total assets under management

Company News

by Rachael Jones

Commercial and industrial property group, the Goodman Group (ASX:GMG) has delivered for the nine months to 31 March 2019 $44.1 billion total assets under management with $3.7 billion of development work in progress.

They say given the high-quality locations of their landbank and increasing scale of development projects, they expect work in progress to approach $5 billion in financial year 2020.

The Group expects that the portfolio will continue to perform strongly and it reaffirms forecast FY19 operating earnings per security of 51.1 cents, up 9.5 per cent on FY18, and distribution per security of 30 cents, up 7 per cent on FY18.

Shares in the Goodman Group (ASX:GMG) are trading 0.6 per cent lower at $13.27.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.