Goodman Property Trust’s record year

Thursday 26 July 2007

Goodman Property Trust has recorded an after-tax operating profit of $51.8 million; a 48% increase on its 2006 results.

Revaluations added a further $65.9 million to the value of its portfolio, bringing the total net profit after tax to $117.8 million.

It has been an eventful year for the Trust with acquisitions of $190 million, disposals of $82 million and an institutional placement in November 2006 raising $96 million to fund its investment and development programme.

Goodman CEO John Dakin says objectives that had been pursued over the year include: 
· extending development capability to take advantage of continuing occupier demand for purpose built facilities;
· establishing a presence in the key Christchurch market; and
· refining its investment portfolio through active management and a targeted investment and disposal programme.

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