Goodman Property Trust reports 13.5% income increase

Thu, 29 May 2025

Goodman Property Trust has reported a 13.5% increase in net property income for the year ended March 31, 2025.

The company's net property income reached $230.5 million, driven by additional revenue from new development completions, positive leasing results, and 7.3% like-for-like rental growth.

Operating earnings after tax were $125m, up from $121.4m in the previous financial year.

Goodman Property Trust's cash earnings increased by 5.2%, reaching 7.55 cents per unit, while cash distributions rose by 4.8% to 6.5 cents per unit.

The company has provided guidance for further growth in cash earnings and a 5% increase in distributions for the 2025 financial year.

Goodman Property Trust's portfolio has a 99% occupancy rate and a weighted average lease term of 5.6 years.

It also completed three Green Star-rated development projects, adding 50,286sqm of warehouse and logistics space to its portfolio.

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