The GPT Group (ASX:GPT) NPAT down 39.4% due to lower valuations

Company News

by Rachael Jones

The GPT Group (ASX:GPT) delivered a Net Profit After Tax of $880.0 million for the 12 months to 31 December 2019, a decrease of 39.4 per cent on the prior corresponding period (pcp) due to lower valuation gains.

Funds from Operations was $613.7 million, up 6.8 per cent, resulting in FFO per security growth of 2.6 per cent on proper corresponding period.

The company successfully completed an $867 million Placement and Security Purchase Plan to fund the Group’s development pipeline and the acquisition of a 25 per cent interest in Darling Park 1 & 2 and Cockle Bay Wharf, in Sydney.

Shares in GPT Group (ASX:GPT) closed 0.49 per cent higher at $6.17 on Friday.