Australia's Dexus slips on wider-than-expected FY loss

Dexus

20/08/2024 01:43

** Shares of Dexus  DXS.AX  fall as much as 8% to A$6.9,
their lowest levels since Aug 6
    ** Stock set for worst day since late March 2020, if losses
hold
    ** The real estate firm reports statutory net loss of A$1.58
bln ($1.06 bln), wider than Visible Alpha consensus estimates of
A$488.5 mln
    ** DXS adds it has earmarked assets worth A$2 billion for
sale over next three years
    ** Co's adjusted funds from operations slip 7% to A$516.3
mln
    ** Stock has fallen 2.3 this year, as of last close,
compared with a 14% increase in the S&P/ASX 200 REIT index
 .AXPJ 

   ($1 = 1.4857 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))