Earnings call transcript: Cromwell Property Group lifts FY 2026 FFO 5% in H2 2026

Cromwell Property Group reported a 5% increase in full-year funds from operations (FFO) for FY 2026, reaching AUD 110.3 million. The Australian property investor and manager credits its expansion of the funds platform, cost cuts, and conservative leverage for the steady earnings growth. New institutional capital contributed AUD 748 million to the company's funds under management, which increased by 11.4% to FY 2026.

Portfolio valuations rose 4.7% year over year, and gearing remained conservative at 31.6%. Cromwell expects FY 2027 to be a "trough year" for FFO due to lease expiry, but anticipates stronger performance from the investment portfolio as the 400 George Street vacancy in Brisbane is filled. The company's stock fell 2.44% to $0.40, near the lower end of its 52-week range.