Waypoint REIT posts 47% leap in first-half profit, upgrades guidance
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The news: Fuel and convenience retail property investment fund Waypoint REIT has delivered first-half statutory net profit of $137.1 million, 46.9% higher than the $93.3 million posted in the first half of 2024.
The numbers: Analysts were expecting a flat result compared to the prior corresponding period, according to Visible Alpha figures.
Distributable earnings came to $55.6 million, in line with a year earlier. Distributable earnings per security was 8.31 cents, up 0.4% year on year.
The group expects distributable earnings per security of 16.64 cents in 2025, representing 1% growth on 2024, and a 1% upgrade on previous guidance.
The context: Waypoint said 83 of its investment properties, or around 21% of its portfolio, were independently valued during the six-month period, resulting in a value increase of $96 million. The total investment property portfolio stands at 400 properties valued at a combined $2.89 billion, as of 30 June.
The source: ASX
