Australia's GPT Group rises most in 18 months on HY earnings beat

GPT

15/08/2022 02:20

** Shares of property trust GPT Group  GPT.AX  rise as much
as 5.6% to A$4.54, their best intraday session since Feb 15,
2021
    ** Reports funds from operations of A$326.5 mln ($232.30
mln) for the half year, beating a UBS estimate of A$308.3 mln
 urn:newsml:reuters.com:*:nASX8td20k 
    ** Declares distribution per security of 12.7 Australian
cents for the half year, above a UBS estimate of 12.6 Australian
cents 
    ** Co forecasts full-year funds from operations of about
32.4 Australian cents per security and distribution of 25.0
Australian cents per security
    ** Stock hits highest level since Aug 5
    ** GPT down 20.7% YTD, as of last close 

    ($1 = 1.4055 Australian dollars)
    

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))