Irongate beats distribution guidance as logistics demand soars Down Under

The Australia-focused group lifted its distribution per share for its 2022 year, probably its last as a listed company

Irongate Group, previously Investec Australia Property Fund , has beaten its distribution guidance for its 2022 year slightly, forking out A$60.86m to shareholders after interest in logistics and industrial properties surged.

The JSE- and ASX-listed group declared a 9.2 Australian cents per share distribution for its year to end-March, up 3.1% year on year, saying in its annual report that investment into Australia’s industrial and logistics sector exceeded that of office and retail for the first time ever in 2021...

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