MLC Centre, an office property in Sydney that was recently divested by the GPT Group. (Photo: GPT Group)MLC Centre, an office property in Sydney that was recently divested by the GPT Group. (Photo: GPT Group)

Australia-listed REIT, GPT Group, has delivered net profit after tax of AUD1,451.7 million (USD1.03 billion) for the 12 months that ended 31 December 2018, an increase of 14.5% from the previous year.

Fund from operations (FFO) per security increased by 3.5% to 31.84 Australian cents.

The FFO growth is in line with the upgraded guidance provided by the REIT in October 2018.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.