Goodman upgrades 2014 guidance

Written By Unknown on Rabu, 11 Juni 2014 | 17.52

GOODMAN Group has upgraded its 2014 financial year earnings guidance due to strong property fundamentals.

Goodman increased its forecast operating earnings outlook for the 2014 financial year to $600 million, a seven per cent increase compared to the same period last year.

However, the group's medium to long-term growth target remains at six per cent.

"The robust property fundamentals, growing contribution from Goodman's development and management activities and the strength and diversity of our global operating platform are key drivers of the group's earnings," the group said.

Goodman Group, which owns properties around the globe, recently said it was benefiting from the strength of international capital markets.

It also said the outlook remained positive, with robust property fundamentals and strong contribution from Goodman's development and management businesses in the third quarter of fiscal 2014.

Operating earnings guidance for the 2015 financial year will be provided at the group's annual results on August 14.


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