Goodman profit takes hit
Goodman has joined the growing list of publicly-listed financial services players reporting substantial profit reverses, announcing to the Australian Securities Exchange today that the company suffered a net loss attributable to security-holders of $465.9 million for the six months to December 31, 2008.
In announcing the result, the company referred to the capital raising of around $965 million it had completed in November last year and said the proceeds had been used to strengthen the company’s balance sheet by reducing debt and maintaining its funding capacity.
It said a part of the proceeds ($194 million) had been used to acquire Macquarie Group’s 50 per cent interest in a 25 per cent share in two independent joint ventures in Hong Kong and an additional investment in Macquarie Goodman Hong Kong Logistics Fund, increasing the company’s ownership interest to 24.2 per cent.
AUTHOR
Mike Taylor
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