The GPT Group (GPT) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the GBT Group 2026 interim results. Following the formal presentation, there will be a Q&A session for investors and analysts. Participants can ask live audio questions during today's call. To ask a live audio question, press the Request Speak button at the top of the broadcast window. The broadcast will be replaced by the audio question screen. Use the dialer number and access pin provided to ask your question via the phone. Alternatively, for those on a home or personal network, you can ask your questions via the web by pressing Join Queue. If prompted, select Allow in the pop-up to grant access to your microphone. If you have any issues using the platform, dial-in details can also be found on the homepage under Asking Audio Questions. The audio queue is now open. I will now hand over to Russell Pratt, Chief Executive Officer. Good morning to everyone who is joining 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 dollars 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. Now, ...