GPT lifts specialty sales

GPT Group (GPT) increased specialty sales by 4.4% in the March quarter, compared to the prior corresponding period, but its outlook for the broader retail market remains conservative. 

The diversified property group's chief executive Michael Cameron noted encouraging improvements in retail and office market conditions during the quarter.

"We also achieved significant growth in our logistics development business, further expanded our funds under management and maintained our fortress balance sheet," Mr Cameron said.

GPT said it still expects moderate growth over the medium term for shopping centre sales and rents.