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Business Description: Growthpoint Properties Australia (GOZ) is an Australia-based company and a real estate investment trust or A-REIT with a mandate to invest in Australian property in the industrial, office and retail sectors. The Company operates in two segments including: Office and Industrial.
Strategy Analysis: GOZ's philosophy is to be a pure landlord with 100% of investments in Australia where management understands the key markets. The Group intends to seek further investment opportunities to diversify the property portfolio by sector and geography via direct property acquisitions, property portfolio purchases and merger and acquisition opportunities. .
Growthpoint Properties reported NPAT up 26.4% to $33.97m for the half-year ended 31 December 2012. Revenues from ordinary activities were $75.16m, up 35% from the same period last year. Diluted EPS was 8.7 cents compared to 9.4 cents last year. Net operating cash flow was $33.28m compared to $21.18m last year. The interim dividend declared was 9 cents compared with 8.7 cents last year.
The Age 20/06/2013 |
Pre-split trading of shares in "New Newscorp," the print media-heavy spin-out from News Corp began quietly on Wednesday, and it will take a while to work out where the new vehicle is headed.
The Age 20/06/2013 |
Local councils that lost millions on investments made through Lehman Brothers have suffered a major setback, after the US arm of the failed bank blocked a deal that would have delivered the investors up to $210 million.
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