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GPT GROUP Capital/Financing Update 2014

Jan 27, 2014

65009_rns_2014-01-27_2a8c5340-bbe8-4874-9ad6-bd44997c6fc2.pdf

Capital/Financing Update

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THE GPT GROUP ANNOUNCES

28 January 2014

Earnings Update

The GPT Group (GPT) today announced earnings guidance for the full year ended 31 December 2013. This guidance is provided to enable GPT to reactivate its on-market security buy-back prior to release of the company’s Annual Result on 13 February 2014.

2013 Full Year Result Guidance

Subject to completion of the review of the accounts by GPT’s auditors and Board approval, GPT expects:

Realised Operating Income for the full year ending 31 December 2013 to be approximately $471.8 million;
Realised Operating Income per ordinary security of 25.7 cents for the full year to 31 December 2013, with EPS growth of 6.1 per cent which is in line with previous guidance of at least 6.0 per cent;
An increase in net tangible assets (NTA) per security of approximately 1.6 per cent compared to 31 December 2012; and
Gearing at the December balance date to be approximately 22.3 per cent (net debt basis).

Michael Cameron, GPT’s CEO and Managing Director, said GPT remains focused on the effective allocation of capital to generate the strongest possible Total Return for securityholders over time.

“In order to enable the purchase of securities prior to our Annual Result announcement, we believe it is prudent to provide this updated guidance,” said Mr Cameron.

2013 Annual Result