Carindale Property Trust (CDP) H2 2026 earnings summary

Executive summary

• Funds From Operations (FFO) rose 8.8% year-over-year to $32.3 million for FY26.

• Statutory profit reached $59.0 million, including an unrealised property valuation gain of $25.6 million.

• Annual distribution increased 5.0% to $24.7 million, or 29.883 cents per unit, aligning with guidance.

• Retail sales by business partners hit a record $1,137.8 million, up 2.9% from FY25.

• Occupancy remained high at 99.9% with 72 leasing deals completed, including 30 new merchants.

Financial highlights

• Property independently valued at $1,628 million (Trust share: $814 million), up 3.3% due to net operating income growth.

• Net tangible assets stood at $7.20 per unit as of 30 June 2026.

• Gearing was 25.3% and interest rate hedging covered 83% at an average base rate of 3.3%.

Outlook and guidance

• Distribution for FY27 is expected to be 31.38 cents per unit, representing 5.0% growth, subject to stable operating conditions.