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Goodman Group (ASX:GMG) has reported a strong first quarter performance and says it’s on track to lift 2015 earnings by 6 per cent.
The industrial property manager is riding the wave of commercial property investment saying total assets under management lifted $0.9 billion to $27.7 billion in the first three months of the financial year.
Occupancy is maintained at 96 per cent across the group and a $2.7 billion development pipeline across 12 countries is forecasting yields of 8.6 per cent.
Customer demand is underpinning stable volumes in Europe, Australia and New Zealand with growth in developmental markets such as Japan, China and Brazil
CEO Greg Goodman says the Group continues to benefit from the significant size and scale of a diverse operating platform and proven development and management capability.
Goodman Group (ASX:GMG) reported a net profit of $679 million for the 2014 financial year.
(20min delay)