Australia's Mirvac Group falls to 1-1/2-week low as annual profit slips

Mirvac

15/08/2025 01:39

** Shares of Mirvac Group MGR.AX fall as much as 3.5% to A$2.23, their lowest level since August 4

** Stock one of the top losers in S&P/ASX 200 benchmark index .AXJO

** The property investment co reports lower FY25 operating profit after tax of A$474 million ($307.82 million) vs A$552 million in pcp

** Co flags impact of impaired residential projects yet to settle

** However, co expects a return to growth in FY26

** Stock up 21.1% this year, including the day's move

($1 = 1.5399 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com))