• Net profit after tax (NPAT) from ordinary operations of $17.0 million • Statutory loss of $(304.9) million including non operating items: o Realised losses of $(51.5) million o Non cash unrealised asset and intangible impairments of $(274.0) million • Operating highlights include: • Debt reduction: o Net debt reduced to $338 million, down from $837 million 18 months ago • Development and construction: o Settlements of $310 million • Retirement: o $53 million of retirement first time and resales o Resale values were 6.5% above book value • Funds management: o Fund asset sales of $212 million o Refinanced $292 million of fund debt facilities • Property investment: o Fund tenant occupancy increased to 96% over the past 6 months o Weighted average lease expiry steady at 3.7 years
BEC Price at posting:
13.5¢ Sentiment: Hold Disclosure: Held