Industrial property company Goodman Group says it is well positioned for solid earnings growth in fiscal 2015 after posting a sharp rise in full-year profit.
At 10.15am (AEST), shares fell 0.19 per cent to $5.25, against a benchmark index rise of 0.24 per cent.
Statutory profit attributable to security holders soared 308.3 per cent to $657.3 million in the year to June 30, compared with $161m in the previous year.
The group said its profit includes property valuation gains of $172.4m, as well as derivative and foreign currency mark to market and other non-cash or non-recurring items.
Goodman's statutory profit is higher than consensus estimates of $598.9m, coming from analysts surveyed by Bloomberg.
Operating profit before significant items lifted 10.5 per cent to $601.1m in the year, compared with $544.1m in the prior year.
Revenue and other income jumped 46.7 per cent to $1.68 billion, compared with $1.14bn in the prior year.
Goodman Group will pay a final dividend of 10.35c per share, unfranked, on August 26 to shareholders who were on the register on June 30.
The company is forecasting a 6 per cent increase in operating earnings per share in full-year 2015 on the back of the growing contribution from its development and management activities, as well as the strength of its Asian and European businesses and the growth of its Americas businesses.
Chief executive Greg Goodman said the growth in operating profit was due to a robust performance across the business.
The group said ongoing investor demand for quality industrial assets was driving significant capital flows and strengthening asset pricing globally, which would help the company selectively rotate assets and recycle capital into new developments to boost investor returns.
Goodman noted that it had disposed of $1.5bn of assets during fiscal 2014, capitalising on strengthening asset pricing.