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BRIEF-DEXUS Property says FY net profit $618.7 mln

Published 12/08/2015, 09:29 am
Updated 12/08/2015, 09:36 am
© Reuters.  BRIEF-DEXUS Property says FY net profit $618.7 mln
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Aug 12 (Reuters) - DEXUS Property Group DXS.AX :

* Appendix 4e and financial reports as at 30 June 2015 DXS.AX

* FY net profit $618.7 million versus $406.6 million a year ago

* FY revenue from ordinary activities $858.9 million versus $699.8 million last year

* Brisbane and in particular Perth are expected to lag the other cbd markets in the short-term."

* Industrial markets are expected to benefit from low interest rates"

* Lower Australian dollar is expected to continue to drive Sydney port volumes"

* Melbourne industrial markets will continue to suffer from supply coming online and elevated incentives.

* For retail properties, sales growth is expected to improve further in FY 2016 "

* Weight of capital searching for Australian real estate is expected to remain strong in FY 2016"

* Guidance for the 12 months ending 30 June 2016 is for 5.5-6.0% growth in FFO per security

* Guidance for 12 months ending 30 June 2016 is for FFO from the underlying business (excluding trading profits) expected to grow by 3.0-3.5%.

* FY funds from operations (FFO) $544.5 million versus $446.6 million

* Distributions per security for the year ended 30 June 2015 were 41.04 cents per security

* Source text for Eikon ID:nASX157MCh

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