A fall in profits for Vicinity

Company News

by Anna Napoli

Real Estate investment Trust company Vicinity (ASX:VCX) has reported its net profit fell about 17 per cent to $756 million for the year ended 31 December 2017 compared to the same time last year.

Revenue for the company rose 4 per cent to $663 million .

The company declared a half year distribution of 8.1 cents per share down also down on the same time last year.

Over the period it expanded its portfolio exchanging it’s 59 percent chatswood chase interests for a 50 per cent stake in three premium Sydney retail properties.

Shares in Vicinity (ASX:VCX) are trading 1.92 per cent lower at $2.55

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.