Vicinity Centres (ASX:VCX) suffers a $394.1 million loss

Company News

by Rachael Jones

Vicinity Centres (ASX:VCX) today announced its results for the half-year ending 31 December 2020 (1H21), with a statutory net loss after tax of $394.1 million.

For the first half 2020 statutory net profit after tax of was $242.8 million.

This is comprised primarily of funds from operation of $267.1 million, a net property valuation loss of $572.4 million and non-cash mark-to-market and foreign exchange movements.

Distribution per security of 3.4 cents was declared for 1H21, compared to 7.7 cents in the prior corresponding period.

Shares in Vicinity Centres (ASX:VCX) are trading 0.62 per cent lower at $1.59