Centuria Industrial REIT announced FY2022 results; Shares up on ASX

Centuria Industrial REIT (ASX: CIP) has announced its FY2022 results for the period ended 30 June 2022. CIP made a net profit of AU$367.5 million.

• Funds From Operations increased 22% to AU$111.7 million compared to FY2021.
• It declared a distribution of AU 17.3 cents per unit and was in line with the FY2022 guidance.
• Net Tangible Assets increased 11% to AU$4.24 per unit compared to FY2021.
• CIP has maintained a strong balance sheet, 32% gearing, 4.4-year weighted average debt duration.
• CIP expects its FY2023 Funds from Operations guidance of AU 17 cents per unit and distribution guidance of AU 16.0 cents per unit.

FY2022 Portfolio Highlights:

• Portfolio expanded to 88 high-quality industrial assets. Now, the total portfolio value has increased to AU$4.1 billion.
• 185,206sqm lease terms agreed. It represents 14% of portfolio GLA across 49 transactions.
• 20% portfolio income derived from CPI indexed leases.
• It acquired 23 high-quality industrial assets and three developments sites worth AU$765 million.

At AEST 11:12 AM, CIP shares are trading at AU$2.940, up 2.439% from the previous close. 

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