- Release Date: 14/03/16 11:10
- Summary: FORECAST: GMT: Valuation Gain Of Around $135 million For GMT
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GMT 14/03/2016 11:10 FORECAST PRICE SENSITIVE REL: 1110 HRS Goodman Property Trust FORECAST: GMT: Valuation Gain Of Around $135 million For GMT Goodman (NZ) Limited, the Manager of Goodman Property Trust ("GMT" or "Trust"), has announced that GMT's financial result for the year ending 31 March 2016 is expected to contain a significant property revaluation. The preliminary result indicates that GMT will record a gain of around $135 million, or more than 6%. The movement follows the independent valuation of the Trust's property portfolio and receipt of draft valuation reports. John Dakin, Chief Executive Officer said, "This is a record result that reflects the quality of the portfolio and the strength of investor demand. With local and offshore investors competing for prime assets the capitalisation rate applied to the portfolio has firmed half a percent to 7.0%. The resulting movement in property values is expected to add around 10 cents per unit to GMT's Net Tangible Asset backing." The expected gain remains subject to finalisation and independent audit and will be confirmed with the Trust's annual result, expected to be announced on 19 May 2016. For further information please contact: John Dakin Chief Executive Officer Goodman (NZ) Limited (09) 375 6063 (021) 321 541 Andy Eakin Chief Financial Officer Goodman (NZ) Limited (09) 375 6077 (021) 305 316 About Goodman Property Trust: GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $1.5 billion, ranking it in the top 15 of all listed investment vehicles. The Manager of the Trust is a subsidiary of the ASX listed Goodman Group, Goodman Group are also the Trust's largest investor with a cornerstone unitholding of 20.62%. GMT is New Zealand's leading industrial and business space provider. It has a substantial property portfolio with a value in excess of $2.1 billion that accommodates more than 250 customers. The Trust holds an investment grade credit rating of BBB from Standard & Poor's. End CA:00279200 For:GMT Type:FORECAST Time:2016-03-14 11:10:39
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- Ann: FORECAST: GMT: Valuation Gain Of Around $135 million For GMT
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