Misc

Big profit jump for Macquarie Goodman property trust

Macquarie Goodman Property Trust (MGPT) today issued a core March year profit of $17.7 million, which was up 118 per cent on the previous year's $8.1m profit.

Thursday, May 19th 2005

If unrealised gains on MGPT's property portfolio were added, the bottom line surplus came in at $27.8m, from $12.4m a year earlier.

Earnings per share was 10.62c a share.

Total revenue was $21.7m, against $21.1m last year. The operating surplus before tax was $19.8m, from $13.3m. A $4.1m gain, mostly from the sale of South City Shopping Centre, was also included in the figures.

Gross distributions of 9.3c a unit were paid to unitholders, plus a one-off imputation credit of 2c a unit, which lifted total gross distributions to 11.3c a unit, to be paid on September 9.

MGPT forecast a gross distribution of 9.86c a unit in the 2005/06 year.

Macquarie Goodman Ltd chairman Jim McLay said the March year was a landmark for the trust, which has been repositioned to invest in industrial and business space assets.

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