DBI -2.08%: delivered a solid first-half result today, with earnings per security coming in at 8.7c, a healthy lift on the 7.4c delivered a year ago. While just shy of the street’s 9c expectation, the result still highlights steady momentum.
- Revenue for the six months to 30 June was $396.4m, comfortably ahead of consensus at $377.6m and up from $377.9m last year.
- The board kept its distribution guidance intact, reaffirming a 2026 target of 24.5c per security, which equates to 6.125c per quarter and represents a 6.5% increase on FY24/25.
- Looking further ahead, DBI guided to distribution growth of 6.5%, underpinned by rising revenue and flat cost growth.
Overall, a tidy set of numbers from DBI that underline its reliable and growing yield. They talked to further cost outs against rising revenue – a good combination.
MM remains long & bullish DBI for yield
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