Growth Properties Australia hits over 3-yr low on posting annual loss

Growthpoint Properties Australia

17/08/2023 05:53

** Shares of Growth Properties Australia  GOZ.AX  fall as
much as 4.2% to A$2.53, hitting the lowest level since April 2,
2020
    ** Real estate group reports annual statutory net loss after
tax of A$254.6 mln ($162.54 mln) vs profit of A$459.2 mln a year
earlier 
    ** Co says FY net property income grew 6.7% to A$264.3 mln
    ** Adds higher interest rates combined with additional debt
to fund the securities buy-back & an acquisition saw co's
interest costs increase materially
    ** Stock down 11.4% YTD, as of last close

($1 = 1.5664 Australian dollars)

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