Warehouse and office owner Goodman Group's annual profit has soared due partly to rising property values.
The value of its directly owned properties, which in Australia includes offices and warehouses for the likes of Woolworths and Coca-Cola Amatil, rose by $172 million to $9.1 billion for the 2013/14 year.
That helped net profit rise to $657 million, more than four-fold its $161 million profit in 2012/13, when property values dropped.
The profit was also boosted by favourable foreign exchange impacts.
Goodman Group's operating profit, which excludes changes to property values and foreign exchange, rose by 10 per cent to $601 million.
Chief executive Greg Goodman expects operating earnings per security to grow by six per cent in the 2014/15 year.
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