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Viva Energy forecasts up to 3.75% YOY growth in FY'18 earnings

Australia-listed Viva Energy REIT is expecting its earnings per security to grow between 3% and 3.75% in financial year 2018 to between 13.81 Australian cents and 13.91 cents.

The forecast came after the real estate investment trust reported total distributable earnings of 13.41 cents per security for the first full-year period since its August 2016 listing on the Australian stock exchange.

From its ASX debut until 2017-end, the trust acquired 13 properties for A$103 million, reflecting an average purchase price of A$7.9 million for each site. Viva Energy Managing Director Margaret Kennedy said the company is also conducting legal and financial due diligence on 12 more properties.

Viva Industrial's portfolio of 438 service stations and convenience stores was valued at A$2.28 billion as of Dec. 31, 2017. It comprises fully leased assets with a weighted average lease expiry of 13.7 years.