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Goodman Group's FY'19 operating profit rises 11.4% YOY

Goodman Group said its operating profit for the 2019 fiscal year increased 11.4% year over year to A$942 million.

The real estate investment trust's operating EPS grew 10.5% to 51.6 Australian cents from a year earlier, while its statutory profit rose 48% to nearly A$1.63 billion. Total assets under management increased 21% year over year to A$46.2 billion.

Goodman declared a distribution per security of 30.0 cents for the fiscal year, up 7% from the prior-year period.

For the year ending June 30, 2020, the property group is forecasting a 10.4% growth in operating profit to A$1.04 billion and a 9% improvement in operating EPS to 56.3 cents from fiscal 2019. The company also expects its distribution for the 2020 fiscal year to be unchanged at 30.0 cents per security.