Aug 13, 2024 / NTS GMT
Anthony Mellowes - Region Re Ltd - Chief Executive Officer, Executive Director
Thanks very much and welcome to our FY24 financial results. My name is Anthony Mellowes. I'm the CEO. I'm presenting these results. With me today is Evan Walsh, our CFO. And also, in the room with me is Erica Rees, our Chief Legal and Investment Officer.
Firstly, let me take you to Slide 4, which sets out our FY24 highlights. Our funds from operations or FFO per security was $0.154 per security. Our adjusted funds from operation or AFFO, was $0.136 per security. The distribution per security was $0.137 per security and our statutory net profit after tax was $17 million. Our operational metrics remained strong.
Our portfolio occupancy of 98%, our average specialty leasing spreads were 4% and our comparable nondiscretionary MAT growth remained resilient at 4%. With respect to capital management, we divested $177 million worth of properties as part of our $200 million capital recycling program. We have $262 million of cash and undrawn debt capacity. Our pro forma gearing at 32.3% is at the lower end of our range and
Full Year 2024 Region Re Ltd Earnings Call Transcript
Aug 13, 2024
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