Australia's Goodman Group jumps on upbeat outlook, sales

Goodman

06/11/2024 24:26

** Shares of property developer Goodman Group  GMG.AX  rise
as much as 0.9% to A$36.64
    ** Co confirms FY25 operating earnings per share growth of
9%
    ** Logs like-for-like net property income growth of 4.9%, as
of Sept. 30 
    ** Brokerage Citi says demand for data centers is
increasing, and Goodman is well-positioned to capitalize on this
trend
    ** Citi says industrial fundamentals remain stable after
several years of strong growth, with supply decreasing in GMG's
markets, potentially fueling future rental growth
    ** Stock up 44.5% YTD, including current session's moves

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com))