PFI posts record results, forecast higher dividends

Chief executive Simon Woodhams said the portfolio has development potential. (Image: supplied)

Mon, 21 Feb 2022

Property for Industry (PFI) reported a record annual result, lifted dividends 2.6% and is predicting further growth in dividends this year.The industrial property developer and landlord reported a net profit of $452.8 million for calendar 2021, up from $113.5m the previous year, with gains in property values adding $392.5m to this year's result compared with a $72.5m gain in 2020.That took the portfolio's passing yield to 4.41%, 112 basis points lower than a year earlier, reflecting the high demand for industrial property, particularly...

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