BWP Trust profit reaches $408.4M in FY26
- BWP Trust reported a statutory net profit after tax of $408.4 million for the 2026 financial year.
- Total distributions for the year increased by 4.1% to 19.41 cents per security.
- The company stated it expects to target distribution guidance of 20 cents per security in FY27.
BWP Trust (ASX:BWP) reported a statutory net profit of $408.4 million for the 2026 financial year, up 58.3% from a year earlier.
Funds from operations grew to $140.9 million alongside a 23.6% increase in new lease spreads. The trust spent $48 million and $25.2 million to acquire two fully leased retail centres.
Portfolio value increased by $257 million, reflecting improved rental income and a firming in the weighted average cap rate to 5.25%, with BWP’s net tangible asset per security increasing 3.3% to $4.11.
Management projected continued retail demand, and following the announcement the BWP share price was unchanged at $3.75.
The business previously raised $228 million in equity during May to strengthen its balance sheet.
Total FY26 distributions were 19.41 cents per security, 4.1% above FY25.
BWP will continue to target a distribution payout ratio of 90% to 110% of FFO. BWP provided distribution guidance per FY27 of 20 cents per security, subject to no major disruptions in the Australian economy or material changes in market conditions.
BWP stated it expects demand for Bunnings warehouse properties to remain stable in the near term.
