Growthpoint Properties on Wednesday reported a distribution per linked unit of 59.1 cents for the 6 months ended December 31, 2009, from 56.3 cents earlier.

The group recorded headline earnings per linked unit of 56.9 cents, from a loss of 62.98 cents earlier, and basic earnings per share of 10.34 cents, from a loss of 2.65 cents.

The group reported revenue of R2.1 billion, from R1.6 billion previously, and operating profit increased to R1.59 billion, from R1.24 billion earlier.

Growthpoint declared an interim dividend of 0.059 cents and a debenture interest payment of 59.041 cents per linked unit totalling 59.1 cents per linked unit.

It also said it raised R1.3 billion capital through a vendor placement, along with the acquisition of 76.2% share in Australian property trust, during the period.

The group said that the increases in revenue and expenses for the period were impacted by the inclusion of the results of Growthpoint Properties Australia (GOZ) for the first time.

Looking ahead, the group said it expected growth in distributions for the full year to be in line with the growth rate achieved in the 6 months ended December 31, 2009.

Growthpoint's portfolio includes 435 properties in South Africa valued at R29.7 billion and 24 properties in Australia through its investment in Growthpoint Properties Australia (GOZ), valued at R4.9 billion.