Region Group (ASX: $RGN) FY24 Results Announcement

Region Group (ASX: $RGN) has announced its financial and operational highlights for the fiscal year 2024. The company reported a statutory net profit after tax of $17.3 million, FFO of 15.4 cents per security, and AFFO of 13.6 cents per security. Additionally, the distribution of 13.7 cents per security represents a payout ratio of 89% of FFO and 101% of AFFO. Region Group also disclosed its operational achievements, including the improvement in portfolio occupancy, leasing deals, and comparable net operating income growth.

Executive Commentary on FY24 Results and Outlook

We are pleased to announce our FY24 results, which reflect our commitment to delivering defensive, resilient cash flows to support secure and growing long-term distributions to our security holders. The increase in the scale of our funds management platform and strategic acquisitions and divestments have contributed to our performance. Looking ahead, we remain focused on targeting comparable NOI growth of 3% and maintaining an appropriate and flexible capital management structure to support our priorities. Our FY25 earnings guidance includes FFO of 15.5 cents per security and AFFO of 13.7 cents per security, with an expected distribution payout ratio of approximately 90% of FFO and 100% of AFFO.

Summary of Region Group's FY24 Results and Outlook

Region Group (ASX: $RGN) has reported a statutory net profit after tax of $17.3 million for FY24, along with operational achievements such as improved portfolio occupancy and leasing deals. The company's outlook includes targeting comparable NOI growth of 3% and maintaining a flexible capital management structure. In FY25, Region Group anticipates FFO of 15.5 cents per security and AFFO of 13.7 cents per security, with an expected distribution payout ratio of approximately 90% of FFO and 100% of AFFO. The company remains committed to delivering secure and growing long-term distributions to its security holders.