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Granite Real Estate Investment Trust (TSX: GRT.UN) Reports 9% Revenue Growth and 161% Surge in Net Income for 2024
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Highlights
Granite Real Estate Investment Trust (TSX: GRT.UN) is a real estate investment trust. It is engaged in the acquisition, development, and management of primarily industrial properties in North America and Europe.
In 2024, the company experienced a 9.2% increase in revenue, rising from CAD 521.2 million in FY23 to CAD 569.1 million. This growth was primarily driven by the commencement of expansion projects, the renewal and re-leasing of properties, a positive foreign exchange impact, and improved tenant recoveries.
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