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

Company News

by Rachael Jones

Last Movement
$6.175 -$0.058 -0.92%
Data Source:
Last Updated: 24/02/2020 3:43 PM

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.

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.