Growthpoint Properties Australia (ASX: GOZ) expects FY23 FFO to exceed guidance.

Tue 04 Jul 23, 09:35 AM | Team Kalkine

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Growthpoint Properties Australia (ASX: GOZ) is a real estate investment trust (REIT) that invests in properties in the office, industrial and retail sectors across Australia.

For the half-year ending 31 December 2022, the company reported revenues of AUD 181.7 million, 20.2% higher than the revenue of AUD 151.2 million reported for 1HFY21. Strategic investments and accretive acquisitions supported the company's revenue growth. During 1HFY23, the company's net property income (NPI) rose 19% annually, while like-for-like NPI gained 10.8% over the prior corresponding period (pcp).

GOZ's net profit after tax increased by 12.1% annually to AUD 117.5 million, compared to AUD 104.8 million in 1HFY22.

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