Australand: Result 2012

Australand has produced another decent result thanks to a full portfolio and rising rents, but corporate activity means it could be its last.

Australand’s full-year result (it has a 31 December year end) provided no surprises. Earnings from its $2.2bn industrial and office investment portfolio increased 3.2% on a like for like basis thanks to contracted rents rises, and 8% overall due to new developments, such as 357 Collins St in Melbourne. This helped boost overall income to 24.6 cents per security, from 23.5 cents in 2011. The board maintained its final distribution of 11 cents (unfranked, ex date 21 December), bringing the annual total to 21.5 cents.

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