Mirvac reaffirms earnings guidance
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Start your free 15 day trial now' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
Mirvac Group (MGR) has reaffirmed operating earnings per share guidance for fiscal 2014, saying housing volumes and pricing are starting to improve.
In its first quarter update, Mirvac restated earnings per share forecasts of 11.7 cents to 12 cents per stapled security and distribution guidance of 8.8 cents to 9 cents per stapled security.
The integrated real estate group said it is on track to achieve a development return on invested capital of greater than 10 per cent.
Mirvac chief executive officer Susan Lloyd-Hurwitz said the group is comfortable with the outlook for its passive assets due to the quality of its office portfolio and the positioning of its retail portfolio towards high quality catchments and non-discretionary spending.
"While we are finally starting to see housing volumes and pricing improve, albeit off a low base, we believe that in order to best take advantage of the residential markets it's all about having the right product, price point and location," Ms Lloyd-Hurwitz said.
Mirvac also noted that ratings agency Standard & Poor's had upgraded its credit rating from BBB to BBB , and said it had completed a seven-year, $200 million medium term notes issuance.
The group said its office portfolio occupancy was 97.3%, its retail portfolio occupancy was 99.2% and its industrial portfolio occupancy was 99.5%.
"Our investment portfolio continues to perform strongly, underpinning the group's earnings, and as evidenced from the metrics, Mirvac's internal leasing teams have been proactively working to de-risk the portfolio," Ms Lloyd-Hurwitz said.
Call 1300 880 160
Start a chat
Schedule a call
