Investa Office Fund (ASX:IOF) has announced a statutory net profit of $471.6 million for FY17, down 4.5 per cent on last year’s results.
The drop has been attributed to a fair value change in derivatives and a foreign exchange drop of $74.8M
Funds From Operations increased by 4 per cent to $182.6M, with higher occupancy in Brisbane and improving rents in Sydney both factors.
Funds From Operations per unit came in at 29.7 cents, a 4 per cent uplift on last financial year.
Shares in Investa Office Fund (ASX:IOF) are trading about 0.42% lower at $4.76.