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Goodman: Industrial property’s fundamentals are ‘really strong’

The company’s operating earnings rose 12% in the past six months.

Goodman maintains the industrial property market is holding up in challenging economic backdrop.

Key points
  • Revenue: Up 14% to $119.5m.
  • Loss: Down 497% to a loss of $163.2m due to property devaluation. 
  • Main takeaway: The demand for industrial type-properties remains resilient despite challenging economic conditions. 

NZX-listed property vehicle Goodman Property Trust slid into the red over the first half of the 2024 financial year, due to a large devaluation of its property portfolio.

But the company maintains that the industrial property market it operates in – providing logistics and warehousing space to

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Key points
  • Revenue: Up 14% to $119.5m.
  • Loss: Down 497% to a loss of $163.2m due to property devaluation. 
  • Main takeaway: The demand for industrial type-properties remains resilient despite challenging economic conditions. 
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Goodman: Industrial property’s fundamentals are ‘really strong’
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