Goodman Property Trust (GMT) has announced strong financial results for the six months to 30 September 2022, with a 6.8% increase in operating earnings to $64.3 million before tax, 3.52 cents per unit cash earnings and distributions of 2.95 cents per unit.
A record level of development activity is underway, with $635.7 million of work in progress, and sustained customer demand has supported high occupancy levels, with 143,384 sqm of new leasing and average occupancy of 99.6%.
The Trust has a strong balance sheet, with a loan to value ratio of 23.2% and $446 million of liquidity, and an inaugural green bond issue in April 2022 secured $150 million of new debt.
GMT's full year guidance is forecast cash earnings of at least 6.9 cents per unit and cash distributions totalling 5.9 cents per unit.
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