Australand Holdings

Australand’s half year result (again) didn’t produce any surprises. Operating profit rose 5% to 11.8 cents per security for the half year ending 30 June over the same period last year (it has a calendar year end). Distributions for the period remained unchanged at 10.5 cents per security, placing Australand on a yield of 7.6%. This improved performance was driven by the company’s $2.3bn commercial and industry property portfolio where, despite a slight fall in occupancy to 98.7%, contracted rent increases lifted income. Australand’s commercial, industrial and office development activities continue to enhance returns. Its flagship development at 357...

Australand’s half year result (again) didn’t produce any surprises. Operating profit rose 5% to 11.8 cents per security for the half year ending 30 June over the same period last year (it has a calendar year end). Distributions for the period remained unchanged at 10.5 cents per security, placing Australand on a yield of 7.6%. This improved performance was driven by the company’s $2.3bn commercial and industry property portfolio where, despite a slight fall in occupancy to 98.7%, contracted rent increases lifted income.

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