CANBERA (dpa-AFX) - Goodman Group (GMG.AX) reaffirmed its expectation for a 9% growth in operating earnings per share for fiscal year 2025, along with a full-year distribution of 30 cents per share.
In its first-quarter of fiscal year 2025 operational update, Goodman Group said that the Group and Partnerships' assets under management(AUM) remained stable over the quarter, with development capex and positive valuation offsetting the negative FX impact. Cap rates appear to have stabilised in most regions, and the company expects high occupancy, development activity and cash flow growth to continue to support long-term returns and ultimately performance fees.
The total portfolio increased slightly to A$78.8 billion, with external AUM of A$70.1 billion as at 30 September 2024.
The company reported like-for-like net property income growth of 4.9% and portfolio occupancy of 97.4% as of 30 September 2024.
The company said it continues to progress planning and early works across logistics and data centre sites and it expects to see substantial commencements in 2025.
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