Investa statutory profit drops 4.5%

Company News

by Jessica Ellerm


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.

 

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.