BWP Trust has posted a 22.4 per cent jump in distributable full-year profit to $92.8 million.
Net profit, including revaluations, was up 34.8 per cent to $149.1 million.
The result was achieved on a 16.7 per cent surge in revenue to $127.4 million on the back of the acquisition of ten new Bunnings Warehouse properties and two Bunnings Warehouse anchored large-format retail centres.
The company also acquired a Bunnings Warehouse development site over the period and a parcel of land adjoining an existing Trust-owned Bunnings Warehouse.
BWP said it had also divested four non-core properties over the course of the year.
It experienced a 2.5 per cent lift in like-for-like rental growth for the year.
Net tangible asset backing was up by 14 cents to $2.07 cents per share because of the acquisitions and a $57.1 million net revaluation gain on its investment properties.
The company delivered a 10.4 per cent jump in its final dividend to 7.88 cents-a-share partially franked. Its full-year dividend was up 4 per cent to 14.71 cents, including the interim dividend of 6.83 cents a share.
The final dividend will be paid on August 28.
BWP said it had $150 million in "debt headroom" to pursue further acquisition opportunities as and when they became available.
BWP owns more than 80 properties across Australia, most of which are tenanted by Wesfarmers-owned Bunnings stores.
Shares in the company were off two cents to $2.49 at 10.50am.