APN Convenience Retail REIT is pleased to announce its results for the half-year ended 31 December 2019.
- Funds From Operations (FFO) of $9.0 million or 10.8 cps, up 6.8% and 0.5% on HY2019 respectively1.
- FY2020 distribution guidance remains unchanged at 21.8 cps, up 4.3% on FY2019
- Net Tangible Assets (NTA) up 17 cents per security to $3.13, a 5.7% increase on June 2019
- $78.7 million of acquisitions taking the total portfolio value to $438.3 million upon completion of the fund-through development pipeline
- Balance sheet gearing of 24.6%, and pro forma gearing adjusted for fund-through development pipeline of 32.7%, within 25% – 40% target range
- Debt facility increased by $40 million and refinanced a further $105 million, extending the weighted average debt maturity to 3.8 years and reducing the weighted average interest cost by 0.20%.
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