Australia's Centuria Industrial REIT gains on annual FFO jump

Centuria Industrial Reit

04/08/2022 03:27

** Shares of Centuria Industrial REIT  CIP.AX  up as much as
2.8% to A$2.95, their biggest intraday pct gain since July 4 
    ** Centuria posts FY22 funds from operations (FFO) of
A$111.7 mln ($77.71 mln), up 22% from a year earlier
 urn:newsml:reuters.com:*:nASX7PTm2y
    ** Posts FY22 distribution per unit of A$0.173, compared
with A$0.17 last year
    ** Still, CIP posts a nearly 40% drop in statutory net
profit to A$367.5 mln
    ** Provides FY23 FFO per unit outlook of A$0.17 per unit,
and distribution forecast of A$0.16 per unit
    ** CIP among top gainers on sub-index of real estate stocks
 .AXRE 
    ** Stock down 31.5% this year, as of last close, compared
with a 17.3% decline on AXRE

     ($1 = 1.4374 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))