DEXUS Property Group (DEXUS) today posted a strong 2016 financial result, with Funds from Operations and distribution per security growth of 6.0%.
Darren Steinberg, DEXUS Chief Executive Officer said: “Four years ago we reset our strategy to focus our business on Australian office property and third party funds management. As a result, today we are Australia’s largest office landlord with 1.8 million square metres of office space under management and have grown our third party funds from $5.6 billion in FY12 to $11.2 billion.
“We have fostered a culture of innovation and continuous improvement, invested in our people to build their capabilities and enhanced our customers’ experience, delivering new products and services. Over the past four years, we have improved our efficiency reducing our Management Expense Ratio from 67 basis points to 35 basis points. At the same time, we have continued to maintain a strong balance sheet, and with recent divestments this further strengthens our position.
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