Vital has solid 2014 result

Vital has solid 2014 result

Vital Healthcare Property Trust today announced a 2014 full year net profit after tax of $37.4m (+7.8%). Vital also confirmed it will pay investors a full year cash distribution per unit of 7.9 cents for the year and increased its 2015 cash distribution guidance to 8.0 cents per unit.

To read the full release click here.

Financial and performance highlights
• Gross rental income of $59.4m
• Operating profit before interest and tax of $50.0m
• 23.1% increase in net distributable income to $34.7m
• Successful 1%2Dfor%2D10 pro rata renounceable rights issue
• New 30 year lease with Ascot Hospital %26 Clinics Ltd at Ascot Hospital in Auckland
•

PORTFOLIO REVALUATION GAIN
$15.2m
2.5% increase driven by proactive asset management

GEARING
31.4%
Strong capital position providing flexibility for future growth

WEIGHTED AVERAGE LEASE TERM TO EXPIRY (WALT)
15.1 years
~3.0x longer than the New Zealand listed property sector average

BROWNFIELD PROJECTS
A$28.0m
Creating capacity through value add redevelopments

PORTFOLIO DIVERSIFICATION %2D THE MARIAN CENTRE
A$13.5m
First Western Australia acquisition providing catalyst for further growth

Financial statements for period end 30 June 2014

To read our financial statements click here.

Annual results presentation

To read our annual results presentation click here.

www.vitalhealthcareproperty.co.nz

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