Garda Diversified Property Fund achieves 12.6% increase in net profit for FY2017

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Garda Diversified Property Fund announced on 23 August that it has achieved a FY 2017 distribution of AUD0.094 per unit, largely unchanged from the AUD0.09 recorded for the previous financial year.

The distribution came in on the back of a 12.6% increase in the REIT’s statutory net profit, which came in at AUD20.21 million.

Correspondingly, funds from operations (FFO) for the year came in at AUD10.7 million, an increase of 18.2% compared to the AUD9.0 million that was recorded for FY2016.

Garda Diversified Property Fund’s total amount distributable for the year increased by 19.1% to AUD10.1 million over the AUD8.5 million achieved in FY2016.

The REIT had AUD233 million in assets under management (AUM) as at June 2017.

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Ridzwan Rahmat has been analysing Singapore-listed REITs and business trusts, since 2008. For disclosure purposes, Ridzwan is currently vested in Mapletree Greater China Commercial Trust, Mapletree Industrial REIT and Mapletree Logistics Trust.

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