The GPT Group (ASX: GPT) share price is in focus after the company delivered a statutory net profit after tax of $400.1 million for the half year, and reported investment portfolio occupancy at an impressive 97.6%.
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What did The GPT Group report?
- Funds from operations (FFO) of $338.8 million, or 17.7 cents per security
- Adjusted FFO of $263.4 million, with a 12.25 cents per security distribution
- Investment portfolio occupancy reached 97.6%, and net tangible assets per security were $5.61
- Group assets under management grew to $41.6 billion, up 4.6% since December 2025
- Net gearing at 31.5%, with $1.0 billion in liquidity
What else do investors need to know?
The GPT Group's investment portfolio maintained strong momentum, with net property income increasing by 5.8%. Its Wholesale Shopping Centre Fund completed an oversubscribed $697 million equity raise, and a $700 million Asian Term Loan was secured, adding diversity to funding sources.
The group's retail portfolio achieved near full occupancy at 99.8%, while office and logistics portfolios reported solid occupancy rates and positive leasing activity. The development pipeline remains active, with projects such as Rouse Hill Town Centre and Melbourne Central expansions progressing on schedule.
What did The GPT Group management say?
Commenting on the result, GPT's Chief Executive Officer, Russell Proutt, said:
This result reflects the earnings power of the platform we are building, with strong NPI growth reflecting the quality of our assets and active management, while the growing contribution from management earnings reflects our success in attracting investors to deploy alongside us. The development pipeline at Rouse Hill, Melbourne Central and Kemps Creek is also funded and on program.
We remain focused for the balance of the year on the Grosvenor Place lease-up, maintaining strong asset-level performance, ongoing engagement with investors across our platform and disciplined capital allocation to create long-term value for GPT securityholders and investor partners.
What's next for The GPT Group?
Looking ahead, GPT expects to deliver FY26 FFO of roughly 35.4 cents per security—about 4% growth on FY25—and an estimated full-year distribution of 24.5 cps. The group remains committed to its active development pipeline and is focused on maintaining asset performance while engaging investors and managing capital prudently.
Major developments, including Rouse Hill Town Centre, Melbourne Central, and logistics facilities at Kemps Creek, remain firmly on track, with completion of key stages scheduled for late 2026 and beyond.
The GPT Group share price snapshot
The GPT Group share price has underperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a decline of around 4.5%.
