Aspen Group Limited
(ASX:APZ) has reported a full year net loss of $99 million, dropping significantly from a $17 million profit last year.
Chairman Frank Zipfinger says the loss is reflective of a challenging residential housing and development environment and includes impairments of $133 million.
Mr Zipfinger said the result underscores the risk of development pursuits, where Aspens interests were struck by planning approval delays, increased costs and infrastructure charges.
The developer has initiated a thorough strategic review of their business, aiming to find a strong path forward.
Aspen has declared a final dividend of 3.15 cents, taking its full year payout to 4.2 cents.
