Goodman Property Trust delivers strong interim results, announces strategic expansion

Goodman Property Trust (GMT) announced an interim profit of $61.8 million after tax for the six months ended September 30, 2025, representing a 35.8% increase. The Trust also reported a 6.7% rise in cash earnings to 3.99 cents per unit and a 5% increase in distributions to 3.4125 cents per unit, reaffirming full-year guidance of 8.0 cents and 6.825 cents per unit respectively. Total portfolio value reached $4.7 billion, with net tangible assets at 203.0 cents per unit and a look-through loan to value ratio of 19.6%.

A major strategic initiative was the establishment of the Highbrook Fund and a complementary property funds management platform, diversifying revenue streams and contributing to a 10.4% increase in operating earnings before tax, to $83.1 million. The fund's launch recycled nearly $700 million of capital, reducing GMT’s look-through loan to value ratio to 19.6% and enhancing liquidity with over $530 million in cash.

In addition to strong financial performance, GMT secured over 65,000 sqm of existing space, maintaining a portfolio occupancy of 97.7% and a weighted average lease term of five years. Development is progressing on multi-unit warehouse space at Mt Wellington and infrastructure works at Waitomokia in Māngere, with a $20 million commitment for data center development at Penrose Industrial Estate. A quarterly distribution of NZD 0.01706250 per ordinary unit, sourced from retained earnings, is payable on December 11, 2025, with an ex-date of December 3, 2025.