BWP Trust: Result 2014

BWP produced another decent result, just don't expect much growth.

BWP Trust (BWP) has announced its full year result, with underlying revenue increasing 4% to $113m. Reported revenue actually increased 17% to $127m chiefly due to acquisitions. Underlying profit increased 5% to $80m, but distributable profit increased 22% to $93m due to acquisitions, lower interest expenses (see below) and a capital distribution reflecting past property sales. The final unfranked distribution increased from 7.14 cents to 7.88 cents (ex-date already passed), bringing the total annual distribution to 14.71 cents, up from 14.14 cents last year.


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