Australia's Dexus annual loss widens as high interest rates wipe off property value

Dexus

20/08/2024 24:03

Aug 20 (Reuters) - Australia's Dexus  DXS.AX  posted a
wider-than-expected annual loss on Tuesday, as high interest
rates wiped off around A$1.9 billion ($1.28 billion) in value of
its property portfolio.
    The real estate firm posted statutory net loss attributable
of A$1.58 billion for the year ended 30 June, much wider than a
Visible Alpha consensus of A$488.5 million loss and prior year's
A$752.7 million loss.
    It has also earmarked assets worth A$2 billion for sale over
the next three years to "further enhance the quality of our
portfolio".


($1 = 1.4852 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru; Editing by Mohammed
Safi Shamsi)
 ((Shivangi.Lahiri@thomsonreuters.com;))