The GPT Group said rising retail sales and high occupancy would shield it from the coming hit to consumer spending as people tighten their purses in the face of inflation and higher borrowing costs.
The ASX-listed landlord said total sales across its retail portfolio rose 8.9 per cent in the September quarter from the same period in 2019 – before the onset of the COVID-19 pandemic – and total specialty sales rose 11.2 per cent.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
