Charter Hall (ASX: CQR) delivers distribution growth of 4.7% per unit in FY22

Charter Hall Retail REIT (ASX: CQR) has released its FY22 results for the period ended 30 June 2022. It delivered earnings growth of 4% and distribution growth of 4.7% for every unit.

FY22 result highlights:

• Operating earnings during the period was AU$164.4 million, up 5.2% compared to the prior corresponding period (pcp)
• Operating earnings of 28.40 cents per unit (cpu), up 4.0% over pcp
• Statutory profit increased AU$372.4 million to AU$663.6 million.
• Distribution of 24.50 cpu up 4.7% over pcp
• Net Tangible Assets (NTA) per unit grew 22.4% from $4.01 in June 2021
• As of 30 June 2022, the company had $245 million of available liquidity to fund capital investment & grow portfolio quality.

FY23 Outlook:

• FY23 earnings per unit to be no less than 28.6 cpu representing growth of at least 0.7% over FY22 earnings per unit.
• FY22 distributions per unit of at least 25.7 cpu, representing growth of no less than 4.9% over FY22 distributions per unit.

At AEST 11:33 AM, CQR shares are trading at AU$4.075, up 1.116% from its previous close.

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