Argosy reports strong interim results, property values increase 1.5%

Argosy Property Limited reported a net profit after tax of $61.1 million for the six months ended 30 September 2025, significantly up from $33.0 million in the prior comparable period. This was boosted by a $31.3 million interim revaluation gain, representing a 1.5% increase on book value. Net property income rose by 4.9% to $61.2 million, with net distributable income climbing 11.7% to $30.7 million. Occupancy remained steady at 96%, and the Weighted Average Lease Term (WALT) extended to 5.4 years.

The company reaffirmed its FY26 full-year dividend guidance of 6.65 cents per share and declared a second-quarter cash dividend of 1.6625 cents per share, payable on 17 December 22025. Argosy also extended its syndicated bank facilities and is progressing towards its 2031 target of 50% green assets, with 37.6% achieved by 30 September, including key developments like 224 Neilson Street and Mt Richmond.

Portfolio gearing stood at 35.9%, within the target range, and the NTA per share increased to $1.56. The company successfully completed 49 rent reviews, achieving an annualised rental growth of 4.1%, and made progress on its portfolio transformation with a focus on sustainable industrial developments.