Dexus today released a statutory net loss after tax of $597.2 million, compared to a statutory net profit after tax of $23.1 million in HY23. This movement was primarily driven by valuation losses on investment property compared to HY23.
The valuation of assets resulted in a total of $687.3 million, a decrease of 4.7% on prior book values for the six months to 31 December 2023.
Dexus Chief Executive Officer, Darren Steinberg said: “Despite the challenging economic environment, we have generated $292.4 million of AFFO and settled $1.3 billion of balance sheet divestments over the past six months, enabling us to maintain a strong balance sheet and recycle capital into other opportunities such as our committed development pipeline.
“In November 2023, we achieved Final Completion of the AMP Capital platform acquisition, and we will be fully integrated by 30 June 2024. We have now created a $57.1 billion scalable real asset platform.”
The Company manages $4.3 billion of funds across its diversified funds management business, which underwent $1.3 billion of fund divestments and $0.2 billion of fund acquisitions.
Dexus expects distributions of approximately 48.0 cents per security.
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