Centuria Industrial REIT upgraded its FY24 funds from operations guidance of 17.2 cents per unit and a reaffirmed FY24 distribution guidance of 16 cpu.

Australia's largest listed pure-play industrial fund recorded funds from operations of %54.1 million in the first half of FY24.

The company showcased a strong balance sheet with 33.7% gearing, no debt expiry until FY25, and an 88% hedged debt as of the end of 2023.

The portfolio highlights feature positive re-leasing spreads of 51%, a $1 billion future urban infill industrial development pipeline, and 108,821 sqm lease terms agreed.