Centuria Industrial REIT reports profit increase, reaffirms FY26 guidance
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The news: Centuria Industrial REIT reaffirmed its FY26 funds from operations (FFO) and distribution unit guidance after reporting higher statutory profit and net operating income growth in the half-year.
The numbers: The industrial real estate investment trust reported statutory profit of $68.9 million, up from $62.6 million year earlier. FFO rose to 9.1 cents per unit, compared with 8.9 cents per unit in the prior corresponding period.
Net operating income increased 5.1% year-on-year, while net tangible assets stood at $3.95 per unit.
The context: Centuria reaffirmed its FY26 guidance, forecasting FFO of between 18.2 and 18.5 cents per unit and distribution guidance of 16.8 cents per unit, to be paid in quarterly instalments.
Centuria fund manager Grant Nicols said the earnings growth in the first-half reflected continued demand for urban infill industrials assets, noting the company's portfolio is heavily weighted to those markets.
He added that further earnings growth potential across the portfolio, with about 60% of leases expiring over the next three years currently under-rented, providing opportunities to execute positive rent reversions.
The source: ASX
