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DEXUS (0DPS.F)

4.1795

+0.0335

+(0.81%)

At close: March 14 at 8:01:00 AM GMT+1

Dexus pitches Australia as safe haven, plans A$2 billion asset sale

Dexus, Australia's largest office landlord, on Tuesday pitched the country as a safe harbour for investors amid geopolitical uncertainty, as it aims to sell A$2 billion of assets in three years in a faltering commercial property market. The Sydney-listed company said it had completed a quarter of its divestment plan, as it reported a 13.9% drop in adjusted funds from operations — its preferred performance metric — for the six-month period ended December 31. "The market is, from an investment point of view, kind of bottoming," said Dexus CEO Ross Du Vernet in an interview.

Reuters 25 days ago

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Australian landlord Dexus says net loss doubles and flags another weak year, shares plunge

Australia property giant Dexus said its annual net loss more than doubled and flagged lower-than expected figures for a key earnings metric next year, sending its shares tumbling. The results underline how Australia's commercial property market has struggled to regain momentum after the pandemic emptied offices across major cities. Dexus' A$14.8 billion ($9.9 billion) portfolio of offices and warehouses shrank 12.9% or A$1.9 billion in value over the year ended in June.

Reuters 6 months ago

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