GPT Group (GPTGF) Q2 2026 Earnings Call Transcript

Operator

Welcome to The GPT Group 2026 Interim Results. [Operator Instructions]

I will now hand over to Russell Proutt, Chief Executive Officer.

Russell Proutt
CEO, MD & Board of Director

Good morning to everyone who has joined the call today. I would like to start by acknowledging the traditional custodians of the lands on which our business operates. We pay our respects to elders past and present and honor our responsibility for country, culture and community in the places we create and how we do business.

In the first half of 2026, capital markets were volatile, but property fundamentals were sound, and it was those fundamentals that underpinned our earnings growth. Funds from operations was $338.8 million, representing an increase of 5% on the first half of 2025. Excluding trading profits, which are no longer included in our FFO calculation, this earnings growth was 8.3%. We also continue building our investment management platform, ending the period at $41.6 billion of assets under management, an increase of $1.8 billion or 4.6%, reflecting the confidence of our partners in GPT to invest capital.