Australia's Goodman falls to more than 5-month low on bleak outlook, muted project starts

Goodman

05/11/2025 01:08

** Goodman Group GMG.AX falls as much as 3.1% to A$31.32, lowest since May 22; set for third straight session of losses

** Data centre landlord targetting 9% operating EPS growth for FY26 vs 9.8% achieved in FY25

** Says development activity weighted to H2 FY26 "may result in a similar effect on the timing of earnings"

** Adds industrial project commencements remain subdued as core logistics business continues to face headwinds

** Citi says, "In our view, these are key building blocks for sustained compound annual growth into FY27 and beyond"

** GMG last down 1.7%, taking YTD losses to 9.3%

 (Reporting by Roushni Nair in Bengaluru)

 ((Roushni.nair@thomsonreuters.com))