Goodman Group reaffirms growth forecast despite macro concerns
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The news: Industrial property company Goodman Group has maintained its full-year growth forecast despite warning that an "uncertain economic and trade environment" is delaying customer decisions in the logistics space.
The numbers: Goodman reaffirmed its FY25 forecast for 9% growth in operating earnings per share, and a distribution of 30 cents per share.
The context: In a quarterly operational update, founder and chief executive Greg Goodman said that customer demand across the company's industrial portfolio is being influenced by uncertainty over international trade and its impact on global growth.
However, he noted that a lack of new supply and customer retention in key markets is supporting underlying property fundamentals.
What they said: "Our development activities are forecast to continue to provide attractive margins relative to risk, with our locations expected to continue to drive rental growth and maintain high occupancy rates across the portfolio," said Goodman.
"Hyperscale operator capex programs are forecast to growth and drive demand for data centres, with support constraints in metropolitan and low latency locations supporting leasing," he said.
The source: ASX
