Business
GPT favours logistics after earnings fall – The Australian Financial Review
Property fund manager GPT Group has announced a buyback of its stock after annual earnings fell almost 10 per cent and write-downs on its property portfolio sent…
Though the accelerated take-up of e-commerce had delivered windfall demand to industrial property landlords, the pharmaceuticals and food sectors had also been big drivers of demand, he said.
GPT announced a buyback of its stock with its 2020 full-year earnings report. Write-downs in its property portfolio sent its statutory result into the red, with a net loss after tax of $213.1 million, compared to a net profit after tax of $880 million in 2019.
Funds from operations the sectors preferred earnings…
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