Dexus Property Group reports losses
Dexus Property Group has released its half-year results to the end of 2008, joining the growing list of property managers with falling asset values and investment performance.
The group’s half-year results to December 31, 2008, show a net accounting loss of $954.3 million, including property devaluations and other impairments of $773 million and unrealised fair value adjustments on derivatives of $429 million. The result also includes an $84 million deferred tax benefit.
Dexus Property Group wrote down its property values by $773 million in the second half.
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