Goodman Group Ltd has flagged an improvement in full-year operating earnings after posting a lift in first-half profit, boosted by the performance of its overseas business.
Net profit for the half rose to $160.4 million, a 3.8 per cent improvement on the $154.6 million booked in the previous corresponding period.
Meanwhile, Goodman Group booked an operating profit attributable to shareholders of $296 million, up from $265.7 million in the first half of 2013.
Its offshore business contributed 53 per cent of operating earnings in the half.
Goodman shares were buoyed by the result, growing 1.26 per cent to $4.81 at 1015 AEDT, against a 0.07 lift in the benchmark index.
The industrial property developer said it is on track to deliver full-year operating earnings per share of 34.3 cents per security, representing a six per cent lift on the previous year.
“The strong underlying performance from our operations in the first half is attributable to the global diversification of Goodman’s operating platform, capital partner and customer relationships… provides us with a significant competitive advantage,” Goodman chief executive Mark Goodman said.
It will pay an interim dividend of 10.35 cents per share on February 21, to shareholders on the record at December 31, 2013.
The group’s distribution reinvestment plan will apply.