News: Mirvac maintains guidance

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Mirvac Group (ASX:MGR) has reaffirmed its full-year earnings per share guidance and says it’s on track to reach its target of 10 per cent return on invested capital for the development division in 2014. 

 

The property developer maintained its operating EPS guidance range of 10.7 to 10.8 cents per stapled security, in its third-quarter operational update.

 

Mirvac chief executive officer Susan Lloyd-Hurwitz says the group's retail and office portfolio's both retained strong occupancy in the third quarter.

 

She says the group’s annual strategic review resulted in the establishment of targeted directional mandates, focused on delivering value to security holders.

 

Ms Lloyd-Hurwitz says Mirvac regularly evaluates M&A opportunities including acquisitions of asset portfolios. 

 

Mirvac generated a net profit of $55.2 million for the first half of the current financial year.