Abacus Property Group (ASX:ABP)
is expecting to increase its underlying profit, to be between $182 million and $187 million in the 2017 financial year.
The property portfolio business says that’s a significant improvement from its underlying profit of $124 million in the 2016 financial year.
Abacus says its stronger performance came from a number of factors, including a $75 million fair value adjustment and its 50 per cent sale of Westpac House in Adelaide.
Its results were also bolstered by better than expected transactional profits for its residential and land projects.
The company says the performance shows Abacus can deliver on its strategies and drive outperformance simultaneously.
Shares in Abacus Property Group (ASX:ABP)
are trading 1.65 per cent higher to $3.08