Growthpoint Properties First Half 2024 Earnings: FFO per share: R0.6 (vs R0.79 in 1H 2023)

Growthpoint Properties (JSE:GRT) First Half 2024 Results

Key Financial Results

• Revenue: R7.12b (up 4.0% from 1H 2023).
• Funds from operations (FFO): R2.20b (down 19% from 1H 2023).
• FFO margin: 31% (down from 39% in 1H 2023).
• FFO per share: R0.6 (down from R0.79 in 1H 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Growthpoint Properties Earnings Insights

Looking ahead, revenue is expected to fall by 7.3% p.a. on average during the next 3 years compared to a 4.8% decline forecast for the REITs industry in South Africa.

Performance of the South African REITs industry.

The company's shares are down 2.3% from a week ago.

Risk Analysis

Before you take the next step you should know about the 4 warning signs for Growthpoint Properties (1 is a bit concerning!) that we have uncovered.

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