It seems like AFR cherrypicked a bit for that negative headline. I saw that last night as well, but forgot about it until i saw your comment. I ducked over and had a look at the ann: there were several properties that saw big falls, and most of the portfolio went down by small amounts, but there were a couple of their properties that had really large upward valuations that gave the portfolio a net increase.
I suppose for the moment the Garda team are quite happy with the results. I wonder where we'll be a year from now.
Ann: Dividend/Distribution - COF, page-125
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