Goodman Group

( ASX:GMG ) - ASX200 Real Estate


CIC Deal A Band Aid Only For Goodman Group

For some time Goodman Group (GMG) has been struggling with the need to deal with around $520 million debt due to be refinanced in May of 2010 and as a follow on measure to the granting of options to Macquarie Group ((MQG)) the company has now reached a deal with China Investment Corporation (CIC).

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Analyst Views

GMG – Deutsche Bank rates as Hold

Management has reaffirmed FY18 guidance for earnings per share of 46.5c and an intention to maintain low gearing levels. The key takeaway from the investor briefing, in Deutsche Bank’s view, was the buoyant state of the industrial property market, in particular in the US.

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