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GPT upgrades earnings on stronger leasing and development project

People & Companies / Latest News

Australia

Aug 15 2017

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Carolyn Cummins, The Sydney Morning Herald

Diversified property group GPT has lifted its full-year earnings guidance to 3 per cent based on stronger market conditions across its portfolio and an increased weighting to new development projects to future-proof rental income.

GPT's chief executive, Bob Johnston, said its four divisions of retail, office, logistics and funds management all experienced improved conditions in the past six months and the coming months were expected to be busy given low office vacancies, rising demand for retail services such as beauty and food, and increasing demand in e-commerce for logistic warehouses.

Go to The Sydney Morning Herald and read the full story.

SOURCE: The Sydney Morning Herald

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