Full Year 2019 BWP Trust Earnings Call Transcript
Ladies and gentlemen, thank you for holding, and welcome to the BWP Trust 2019 Full Year Results Briefing. (Operator Instructions) I'd now like to hand the call over to the Managing Director of BWP Trust, Mr. Michael Wedgwood.
Good morning, everyone, and welcome to full year results teleconference. We've released to the ASX this morning our full year results, our annual report and the presentation slides, which I'll go through now. And at the end, we'll take questions.
As is normally the case, I have with me Andrew Ross, our Portfolio Manager; and David Hawkins, our Finance Manager. If we start on Slide 5, which just provides a summary of our full year outcomes, overall, we're pretty comfortable with the Trust, its position at the moment in what is a very low interest rate, low return and low growth environment and potentially environment that's becoming a bit more politically unstable at least internationally.
We're mostly exposed to the Bunnings business, and we expect Bunnings to
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