FX.co ★ Goodman Group HY Operating Profit Rises

The Goodman Group (GMG.AX) recently reported a 29% increase in operating profit for the half year ending 31st December 2023, realizing a total of A$1.13 billion. This rate of growth also reflected in the operating earnings per security, which saw a significant increase, jumping to 59.2 cents, a 28% increase compared to the previous year.

However, the company reported a sizable statutory loss for the most recent period, posting a staggering A$220.1 million. The Goodman Group remains confident in its performance, forecasting a steady growth rate of 11% for the full-year operating earnings per security, which surpasses the previously projected growth rate of 9%.

As far as assets under management (AUM) are concerned, the company now oversees A$79.0 billion, marking a slight 2% dip as compared to figures from 30th June 2023.

Goodman Group also reported positive developments in terms of its environmental initiatives. The company has expanded its global solar activity, with installed capacity and commitments reaching 312 MW. Moving forward, the company is on track to achieve its goal of 400 MW by 2025.