Challenger Diversified Property Group
(ASX:CDI) has posted a net profit of $15.2 million, down from the $20.8 million net profit reported in the previous corresponding period.
The group says net profit after tax was hit by investment property fair value adjustments of $9 million for the period including incentives, capital expenditure and straight-lining.
Fund manager Trevor Hardie reaffirmed the group’s full-year normalised earnings guidance of 22.3 cents per unit and distribution guidance of 18.5 cent per unit.
Mr Hardie says the company remains focused on de-risking its future lease expiry profile to continue to grow earnings and distribution.
Challenger will pay an interim dividend of 9.2 cents.
