Goodman Group Profit Up 16% in H2 2020
February 19, 2021 – Goodman Group announced its results for the half year ended 31 December 2020. The Group delivered an operating profit of $614.9 million (US$478.7 million), up 16% on the prior corresponding period.
Group Chief Executive Officer, Greg Goodman said: “The logistics and warehousing sector are playing a significant role globally in providing essential infrastructure to the digital economy. On average, global online sales increased by 30% in 2020 and are expected to show strong growth over the next five years. We are experiencing strong demand from customers as they meet increasing consumer requirements and higher utilisation of properties.
“Our development activity is reflecting these trends and the flow-on effects in the digital space. As a result, we have again increased the levels of development work in progress to $8.4 billion. Maintaining a strong balance sheet and retaining income has provided us with significant liquidity, stability and financial resources for sustainable growth.”
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