First Impressions Profit Report: Goodman Group (GMG) - FY15 operating profit up 9%; forecasts FY16 distribution of 23.8 cents per security

Bell Potter

Stockbroker

Statutory profit up 84% to $1,208m (primarily on the back of $710m of asset revaluation gains). Net tangible assets per security increased 20% to $3.46, with a significant contribution from urban renewal projects (current price $6.28). Total assets under management of $29.4 billion, up 10% on FY14, reflecting increased valuations. Development work in progress of $3.1 billion across 76 projects in 11 countries, 65% pre-committed and 71% pre-sold to third parties or managed partnerships. Outlook: With the current market conditions expected to continue, Goodman is forecasting earnings growth of 6% in FY16, while further reducing gearing. This will in turn provide the Group with significant financial and operating flexibility for future periods to deliver on its earnings growth targets. “Positioned to deliver a target long-term EPS growth of 6%, including forecast FY16 operating EPS of 39.4 cents (up 6% on FY15)”. Read our summary here: (VIEW LINK)


1 topic

1 stock mentioned

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.