Abacus Group announced 1HFY23 Results; DPS increased 2.9%

Abacus Group (ASX: ABP) announced 1HFY23 results. Below is the glimpse of the result:

• The group's statutory profit in 1HFY23 was AU$84.5 million, down 73.2% from 1HFY22.
• Funds from Operations (FFO) increased marginally by 0.4% from 1HFY22.
• FFO per security fell by 7.0% to 9.1 cents from 1HFY22.
• 9.0 cents in distribution per security (DPS), up 2.9% from 1HFY22
• The gearing for 1HFY23 is 32.2%, up 350 basis points on FY22.
• 127 assets, including 19 development sites, which were purposefully built, with 65% of shops placed in the Top 3 Significant Urban Areas.
• 1HFY23 net tangible assets (NTA) per stapled security of AU$3.86, up 0.3% from FY22
• An AU$212 million development pipeline at excellent sites that will result in the opening of 17 stores in the near to medium term.

AT AEDT 1:17 PM, ABP shares are trading at AU$3.125, up 9.649% from the previous close.

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