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BWP Trust Reports NPAT Up 52.8% to $48.83m for the Half Year to 31 December 2012

12 Feb 2013  |  15:16:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Half-Year Results to 31 December 2012

BWP Trust reported NPAT up 52.8% to $48.83m for the half-year ended 31 December 2012. Revenues from ordinary activities were $54.0m, up 9.3% from the same period last year. The increase in revenues was mainly due to growth of the property portfolio during or since the corresponding period - from acquisitions and improvements to investment properties (adding approximately $3.2m) and rent reviews (adding approximately $1.5m). Basic and Diluted EPS was 9.2 cents compared to 6.15 cents last year. Net operating cash flow was $36.87m compared to $34.92m last year. The interim dividend declared was 7.00 cents compared with 6.63 cents last year. Property income for the second half of 2012/13 will include a full six months rental income the Bunnings Warehouse-anchored homemaker centre in Gladstone, Qld, acquired in September 2012.

BWP Trust Half Year Results to 31 December 2012

6 Months to 31 December 2012 (A$'000) 6 Months to 31 December 2011 (A$'000)
Revenue 53,999 49,397
Pre-Tax Profit 37,361 34,519
Net Profit 48,833 31,955
Operating Cash Flow 36,869 34,915
Interim Dividend (cents) 7.00 6.63
Basic and Diluted EPS (cents) 9.20 6.15
NTA ($) 1.87 1.87
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