Australand will be the first REIT to release its full year...

Australand will be the first REIT to release its full year results on 9 Feb 2010. Let us see what the expected results are so we can evaluate the financial report objectively when its released regardless how the market might react to it.

Operating Profit after tax, excluding unrealised gains/losses from property revaluations and impairments, is expected to be approximately $120 million (as confirmed in the 3rd quarter update).

Unrealised losses from property revaluations and Impairments of development and joint venture inventories for the first six months of 2009 were (235m) and (93m) respectively. The market expects these numbers to show a slight further decrease or to remain unchanged as a best case scenario.

NTA post capital raising is 71c. The new NTA will depend mainly on the results of asset revaluations.

Finally, expected DPS for 2010 to be 4c.