Garda Property Group (ASX:GDF) now expects fiscal 2025 funds from operations to be about AU$15 million, up 12% from its previous guidance, helped by its lending segment, according to a Thursday Australian bourse filing.
The company reaffirmed its distribution guidance of AU$0.063 per share for the fiscal year, with the final quarter payment expected to be on July 15.
In the same filing, the company said it expects the settlement of its North Lakes sale to occur in late August, and proceeds of about AU$113 million will be used to reduce its borrowings to roughly AU$157 million, representing pro-forma gearing of nearly 28%.
The company's shares gained over 1% in recent Thursday trade.
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