The group reported an operating NPAT of $34 million for the first half of the 2021 financial year, a slight incline from the $33.4 million it produced in the prior corresponding period.
Growth across its listed and unlisted real estate divisions resulted in a 16 per cent increase in its assets under management (AUM), to $10.2 billion.
There had been 50 per cent growth in AUM for Centuria’s Industrial REIT, 29 per cent for its healthcare segment and 24 per cent in the New Zealand business.
John McBain, joint chief executive of the group, commented that Centuria had seen a period of “strong performance”. The company has shown optimism for its future, lifting its full-year distribution guidance by 17 per cent, to 10 cents per share, and signalling ambitious plans for further growth.
“As the financial year unfolds, allowing greater certainty, Centuria reaffirms its FY21 operating earnings per security guidance range of 11.5-12.5 cents per share and further upgrades FY21 distribution guidance to 10 cents per share,” Mr McBain said.
He added the company is maintaining a focus on the industrial and healthcare property sectors in Australia and New Zealand.
“Co-chief executive Jason Huljich and I intend to continue to execute on Centuria’s joint strategy of real estate and corporate acquisitions, and the group aspires to increase funds under management by 50 per cent in the near term,” Mr McBain said.
Real estate AUM expanded by 16 per cent to $9.3 billion in the half. Assets in listed real estate grew by 18 per cent to $4.8 billion, while unlisted real estate was up by 7 per cent to $4.5 billion.
Centuria had also made $1.4 billion in gross real estate acquisitions across 24 industrial, healthcare and development assets throughout Australia and New Zealand.
Meanwhile, the unlisted real estate platform had secured $500 million of real estate across four funds.
Sarah Simpkins
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
You can contact her on [email protected].
