Goodman (NZ) Limited is delighted to declare that the 2012 Yearly Report for Goodman Property Trust and GMT Bond Issuer Limited is now accessible.
The report on the web comprises a video review of the outcome from Chief Executive Officer, John Dakin.
The report can be accessed from the Trust’s internet site or by clicking on the link: www. goodmanreport. co. nz/2012.
It has been another victorious year for Goodman (NZ) with the sturdy financial performance mulling over the quality of the underlying property portfolio and the gains of an active management approach.
Keith Smith, Chairman of Goodman (NZ) Limited, stated, “The Board and Management Team are pleased with the sound operating result that has been achieved. The 24.4% increase in profitability to $53.5 million and a 4.4% increase in pre-tax distributable earnings to $80.9 million are particularly satisfying given the sluggish operating conditions that have persisted.”
The added revenue yielded from the Trust’s development programme and earlier acquirements get reflected in the 2.4% boost in net property income, to $111.3 million, and the 4.4% surge in distributable earnings before tax.
A higher effective rate of tax in 2012 has contracted distributable earnings to $74.8 million from $78.0 million during the previous corresponding period.