BWP Trust's profit down 41 per cent
The West Australian
February 9, 2012, 1:36 pm
BWP Trust's profit up 41 per cent
Bunnings Warehouse properties investor BWP Trust has posted a half-year net profit of $32 million, down 41 per cent from a year earlier.
BWP had revenue of $49.8 million for the six months ended December 31, up 23 per cent.
The trust's distributable profit was $34.5 million - up 31 per cent - at a rate of 6.63 cents per ordinary unit.
BWP is maintaining guidance of a forecast distribution of 13.3 cents for the full year.
"Bunnings' continued strong focus on expansion and ongoing investment in its property pipeline and existing stores is likely to generate increased demand for additional upgrades of some of the Trust's existing properties and may also provide further opportunities for the Trust to selectively acquire quality Bunnings Warehouses," BWP said.Follow thewest.com.au on Twitter
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