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Business Description: GPT Group (GPT) is a property company that invests in retail, office and industrial/business park assets. The group is focused on active ownership of Australian real estate in the Retail, Office and Industrial/Business Park sectors, Fund Management and selective development. GPT is a stapled security comprising a unit in the trust and a share in the management company.
Strategy Analysis: The current strategy is focused on the active ownership of Australian retail, office and industrial property while reducing stakes in wholesale funds, continuing to exit non-core businesses, close the gap to NTA, grow Australian funds management fees undertake accretive development and acquisitions.
GPT Group reported NPAT up 67% to $243.1m for the half-year ended 30 June 2011. Revenues from ordinary activities were $471.0m, up 27% from the same period last year. Realised operating income (ROI) increased by 7.6% to $221.5m. The increase in ROI compared with June 2010 is largely the result of solid operating income growth across the portfolios and a reduction in the average cost of debt. Basic and Diluted EPS was 12.4 cents compared to 7.2 cents last year. Net operating cash flow was $188.2m compared to $188.1m last year. The interim dividend declared was 8.8 cents compared with 4.1 cents last year.
The Age 7/02/2012 | ISRAEL'S Foreign Minister was headed for Washington overnight amid signs that the US and its Middle East ally hold diverging views on how best to resolve the standoff over Iran's disputed nuclear program.
Sydney Morning Herald 7/02/2012 | There will be fewer love hearts and boxes of chocolates this Valentine's Day for the short-lived chief executive of Perpetual Limited, Chris Ryan.
Sydney Morning Herald 7/02/2012 | HOTEL owners and operators are preparing for a busy year of openings and renovations as demand increases from domestic travellers.
The Age 6/02/2012 | AUSTRALIA has a reputation for embracing technological developments quickly. We had a record take-up of VHS, DVD and widescreen television, and it is widely claimed that the Land of Oz has more home theatres per head of population than anywhere else in the world.
Sun Herald 5/02/2012 | INVESTORS cheered during the week, perhaps convinced that the latest rearrangement of deckchairs on the good ship euro will do the trick and right the heavily listing vessel.
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