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$80b data centre opportunity lifts Goodman to new high

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Goodman Group securities surged to a record high on Thursday after the industrial property giant upgraded both its full-year earnings guidance and the size of its data centre development pipeline as part of a better-than-expected half-year results update.

It was the 10th year in a row that the country’s most successful global property player upgraded its earnings guidance at the halfway mark. Goodman Group forecast around $2 billion of operating profit, or 11 per cent growth in earnings per security over the full year, up from a previously guided 9 per cent.

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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com

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    Original URL: https://www.afr.com/property/commercial/80bn-data-centre-opportunity-lifts-goodman-to-new-high-20240215-p5f540