Region Group (RGN) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.216 Thank you very much and welcome to our first half FY26 results 00:00:05.216 -- 00:00:07.739 for Region Group. My name is Anthony Mellows. 00:00:07.739 -- 00:00:12.423 I'm the Chief Executive Officer. Presenting these results with me today is David Salmon, 00:00:12.423 -- 00:00:17.208 our Chief Financial Officer. Also in the room with me is Erica Rees, our Chief Operating 00:00:17.208 -- 00:00:19.871 Officer. I'm really pleased with this set of results. 00:00:19.871 -- 00:00:25.296 We have increased our earnings growth, which is underpinned by some really strong operational 00:00:25.296 -- 00:00:30.259 results and our fully hedged interest position. 00:00:30.473 -- 00:00:35.727 Let me take you to slide four, which sets out our first half FY26 highlights. 00:00:35.727 -- 00:00:40.739 Our funds from operations or FFO was 7.9 cents per security, which increased 00:00:40.739 -- 00:00:42.584 by 3.9% 00:00:42.584 -- 00:00:45.246 from December 2024. 00:00:45.543 -- 00:00:50.831 The distribution per security was 6.9 cents per security, which was the same as 00:00:50.831 -- 00:00:56.480 our adjusted funds from operation, or AFFO, which increased by 3% 00:00:56.480 -- 00:01:01.749 from December 2024. Our statutory net profit after tax of $180 00:01:01.749 -- 00:01:06.516 million, including an increase in the fair value of our investment properties. 00:01:06.516 -- 00:01:12.105 Our assets under management has increased by 3.9% from June 25 to $5.4 00:01:12.105 -- 00:01:16.271 billion. Our operational metrics remained resilient. 00:01:16.271 -- 00:01:19.816 Our comparable MAT growth was 3.1% per 00:01:19.816 -- 00:01:25.263 annum. Our average annual fixed rent reviews were 4.3% per annum. 00:01:25.263 -- 00:01:28.707 Our average specialty leasi...