BWP Trust (ASX:BWP) reported Friday fiscal first-half earnings of AU$0.0913 per security excluding gains in fair value of the group's properties, down from AU$0.0926 a year earlier.

Analysts polled by FactSet expected earnings of AU$0.10.

Total revenue for the six months ended Dec. 31, 2025, was AU$103.6 million, compared with AU$100.6 million a year earlier.

The company said it expects capital expenditure in the range of AU$60 million to AU$70 million in fiscal 2026.

The board declared an interim dividend of AU$0.0958 per share, up from AU$0.092 a year earlier, payable Feb. 27 to shareholders on record as of Dec. 31, 2025.