Mirvac Group
(ASX:MGR) has released its first quarter operational update for FY17.
Mirvac reaffirmed its operating earnings guidance of 14.0 cents to 14.4 cents per stapled security.
The Group says it’s on track to achieve operating earnings growth between 8% and 11% in FY17, and a residential return on investment capital over 15%.
Regarding its industrial assets, Mirvac says it has a high occupancy rate of 99.7%, and a long weighted average lease expiry of 7.7 years. As for residential assets in the September quarter, the Group has settled 67 residential lots in line with expectations.
Mirvac posted a net profit of $1 billion at 30 June 2016.
