bottom line profit down 63pc

Sydney - Monday - August 25: (RWE Australian Business News) -
Galileo Japan Trust (ASX:GJT) net profit fell 63pc to $12.2m in the June
30 year from $33.17m.
Revenues rose 34pc to $66.87m from $49.99m.
Distributable earnings rose 54pc to $34.35m from an annualised
$11.965m for June 2007.
Basic earnings per unit were 3.07c, down from 11.68c, while
distributable earnings per unit rose by 12.5pc to 8.64c.
Distributions for the year totalled 8c, up from 7.2c
(annualised) in 2007.
Net tangible asset backing per unit was 90c, down from 93c.

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"The earnings outperformance relative to FY07 and earlier
guidance provided in February 2008 has been driven by a strong portfolio
performance delivered by higher-than-forecast tenant retention and
growth in rentals, particularly in the Tokyo office portfolio,"
directors said.
They were confident the trust was well-positioned to deliver
distributable earnings of at least 8c per unit in 2009.
Based on this assessment and having regard to current market
conditions, the directors intended to maintain distribution at 8c per
unit for 2009.