• Net profit after tax of $35.8 million, up 143.8%
• Funds From Operations (FFO) of $14.5 million, up 1.3%
• Distribution per security of 10.45 cents, up 1.7%

Dexus Convenience Retail REIT (DXC) has reported strong financial results for the half-year ended 31 December 2025, with a 143.8% increase in net profit after tax to $35.8 million and a 1.3% rise in Funds From Operations (FFO) to $14.5 million. The portfolio delivered like-for-like income growth of 2.9%, reflecting the portfolio's contracted annual fixed and CPI-linked rental escalators. Net tangible assets increased by 4.4% to $3.80 per security, primarily due to asset revaluations. DXC's property portfolio comprises 91 assets valued at $760 million with a weighted average capitalisation rate of 6.23%. The portfolio continues to demonstrate resilience, with portfolio occupancy maintained at 99.9% and 95% of income underpinned by major national and international tenants. DXC is well-positioned to deliver defensive and growing property income, with a focus on enhancing portfolio attributes, preserving balance sheet flexibility, and pursuing value-enhancing activities.

Barring unforeseen circumstances, DXC reaffirms FY26 guidance for FFO and distributions of 20.9 cents per security, reflecting an attractive distribution yield of 7.7%.

DXC's service station and convenience retail assets benefit from predictable cash flows and strong tenant covenants, which together are expected to support valuation resilience. The company will continue to focus on enhancing portfolio attributes, preserving balance sheet flexibility, and pursuing value-enhancing activities, including the Glass House Mountains redevelopment and further development pipeline restocking.