Goodman Property Trust's cash earnings up 7.4%

Thu, 10 Nov 2022

Goodman Property Trust's manager said its first-half net profit fell 92.6% as it cycled a massive property revaluation in the previous first half, but underlying pre-tax profit was up 6.5%.Net profit for the six months ended September fell to $48.8 million, compared with $570m in the same period a year earlier, which had included a $504.7m unrealised increase in property values.Property values were unchanged in the past six months, reflecting accelerating rental growth – Goodman specialises in building and managing industrial property...

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