Commercial and industry property group Goodman says its operating profit has risen almost nine per cent, and it expects further growth in the 2018 financial year.
The company's operating profit rose 8.6 per cent to $776 million, from $714.5 in the prior corresponding year, driven by strong operational performance and a repositioning of its business.
Chief executive Greg Goodman says the company has taken advantage of the property cycle to make $3.5 billion of asset sales this financial year, redeployed the capital into strategic developments and reduced group leverage to 5.9 per cent.
"This has provided us with greater financial flexibility and enabled us to improve the quality of our global portfolio," Mr Goodman said.
He said that over the past five years, the company had consistently delivered operating profit and earnings per share growth of more than seven per cent and was now looking at investing in rapidly advancing technology.
"Although the evolution of e-commerce and supply chain transformation are still in their early stages, we are seeing increased demand for our expertise in providing high quality logistics facilities in prime locations," Mr Goodman said.
"This is a trend we expect to accelerate over the next five to 10 years."
The company's statutory full-year net profit slumped 39 per cent to $778.1 million, primarily due to lower valuation growth and a value loss of $173.1 million due to the modification of debt issued in the United States market.
Revenue for the year to June 30 was also down, by 13.4 per cent to $2.55 billion.
Goodman said the company is well positioned for the future and forecast a full-year operating profit for 2018 of $828 million, or 45.7 cents per security, up six per cent on 2017.
Its shares were down one per cent at $8.45 at 1338 AEST on Monday.
GOODMAN'S YEAR AT A GLANCE:
* Net profit down 39pct to $778.1m
* Revenue down 13.4pct to $2.55b
* Operating profit up 8.6pct to $776m
* Final, unfranked, dividend up 1.1 cents to 13.2cps
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