Australia's Dexus swings to half year profit (updated)

Dexus

17/02/2025 22:41

(Updates with further details on results from paragraphs 2)
       Feb 18 (Reuters) - Australian property giant Dexus
 DXS.AX  on Tuesday swung to a profit of A$10.3 million ($6.55
million) for the six months ended December 2024, from a loss of
A$597.2 million in the prior period, driven by stabilizing
capitalisation rates and reduced fair valuation losses.
    Dexus declared an interim distribution of 19.0 Australian
cents per security.
        The company reaffirmed its fiscal 2025 guidance,
projecting adjusted funds from operations (AFFO), a key metric,
of approximately 44.5 to 45.5 Australian cents per security.
  
        "Longer-term trends remain sound with demand underpinned
by strong population growth", Ross Du Vernet, Group CEO and
managing director said in a statement. 
  
        
  
($1 = 1.5736 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))