February 13, 2018 / 9:47 PM / 5 days ago

Australia’s Goodman Group posts 9 pct rise in HY operating profit

Feb 14 (Reuters) - Australia’s largest listed property owner Goodman Group said on Wednesday its half-year operating profit rose 9 percent, and it upgraded its full-year earnings forecast.

Operating profit was A$421.3 million ($331.10 million) for the six months to Dec. 31, the company said, higher than A$388.2 million a year ago and better than analyst forecasts of A$412 million, according to Thomson Reuters I/B/E/S.

The property developer declared a distribution of 13.75 Australian cents per security, up from 12.7 Australian cents a year ago.

It also raised its earnings outlook for fiscal year 2018 to 46.5 Australian cents per share, an 8 percent increase on fiscal 2017’s performance. ($1 = 1.2724 Australian dollars) (Reporting by Aaron Saldanha in Bengaluru; Editing by Byron Kaye)

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