Goodman with high profit

According to the Goodman Group report for the financial year ended June 30, 2019, the company's operating profit worldwide reached 942 million Australian dollars (AUD), 11.4% more than the previous year. Earnings per share amounted to 51.6 AUD cents (an increase of 10.5% y/y), and the statutory profit was over 1.6 billion AUD – 48% more than the previous year.

The company expects to record an operating profit of over 1 billion AUD in the current year, and earnings per share will amount to 56.3 AUD cents (+9% y/y).

“Our strategy remains focused on owning, managing and developing high-quality real estate for customers operating in major urban centers. The result is significant profit growth for the company and our shareholders.

A key influence on our business is the evolution of our customers' supply chains – the market expects them to operate faster and more efficiently.

Our real estate portfolio is constantly growing – we are currently carrying out investments worth a total of 4.2 billion AUD worldwide. Over the next 12 months, this value will increase to approximately 5 billion AUD. In the completed financial year, we also raised more capital from our partners, and the return on joint investments averaged 16% per year.

The profit from the revaluation of our properties and joint ventures with partners amounted to 3.8 billion AUD and contributed to the increase in the value of projects under Goodman management (AUM) to 46 billion AUD. We estimate that it will grow as more facilities are commissioned.”- says Greg Goodman, CEO of Goodman Group.