GPT Group reaffirms FY26 guidance after posting 4.2% increase in Q3 sales
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The news: Diversified property group GPT has reaffirmed its FY26 funds from operations guidance of around 35.4 cents per security, a 4% increase on the prior year, alongside a projected distribution of 24.5 cents per security.
The numbers: For the March quarter, the group reported a 4.2% increase in total centre sales, while total speciality sales rose 3.9% compared to the prior corresponding period.
Investment portfolio occupancy was at 99.7%, with a weighted average lease expiry of 3.8 years.
The GPT Wholesale Shopping Centre Fund raised $610 million from new and existing domestic and offshore investors over the past 12 months.
The context: The group said the unchanged guidance reflects the resilience of its retail centres.
It added that the Rouse Hill Town Centre redevelopment remains on track and on budget, with completion expected in the fourth quarter.
The source: ASX
