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Highlights
- Statutory NPAT of $53.7 million, reversing a $10.2 million loss from the prior year.
- Funds from Operations (FFO) up 5.7% to $28.8 million (9.1 cps), driven by 4.7% portfolio growth.
- FY25 guidance maintained, with FFO per share of 17.8 cents and distributions per share of 16.4 cents (6% dividend yield).
- DXI shares down slightly to $2.72 following results.
Dexus Industria REIT (ASX:DXI) reported a statutory net profit after tax (NPAT) of $53.7 million for the six months ending December 2024, marking a strong turnaround from the $10.2 million loss in the prior corresponding period.
The improvement was primarily driven by property valuation gains, a notable contrast to last year’s valuation losses.
FFO Growth Despite Divestments
The ASX 300 REIT’s Funds from Operations (FFO) grew 5.7% to $28.8 million, or 9.1 cents per share, supported by a 4.7% like-for-like portfolio growth. However, this was partially offset by reduced property income from asset divestments.
FY25 Outlook: Growth and Stability
Looking ahead, management has reaffirmed its FY25 guidance, expecting:
- FFO per share of 17.8 cents, representing 2.3% growth.
- Distributions per share of 16.4 cents, offering a 6% dividend yield.
Despite the positive results and stable forward guidance, Dexus Industria shares slipped slightly to $2.72.
