Bunnings Warehouse Property Trust has announced a distributable income of $18.8 million for the half year to December 31 2005, up 7.3 per cent on the same period the previous year. And the trust is predicting a growth in revenue and earnings as the result of further additions to its portfolio, improvements to existing properties, and programmed rental escalations. Revenue for the trust during the six months to December 2005 was $27.2 million, up 10.3 from the previous, although net profit was down 7 per cent to $34.60 million. The trust declared an interim distribution of 6.22 cents per ordinary unit, up 7.4 per cent in the same half during 2004. Total assets held by the trust were valued at $702.5 million at December 31 2005, with unit holders equity of $479.5 million and total liabilities of $222.9 million.