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Article: AUSTRALIA'S CENTRO PROPERTIES POSTS $US1.56BLN 1H NET LOSS.(Financial report)
- Article from:
- AsiaPulse News
- Article date:
- February 26, 2009
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SYDNEY, Feb 26 Asia Pulse - The Centro Properties Group (ASX:CNP) has reported a $A2.4 billion ($US1.56 billion) first half loss, as the shopping centre owner was hit by falling property values, slumping derivative values and losses from the movement in exchange rates.
Centro's net asset value declined to negative $346 million according to the results which incorporate both Centro Properties Ltd and Centro Property Trust, the Melbourne-based company said in a statement on Thursday.
Revenue for the first half tripled to $1.1 billion.
Centro said it lost $1.23 billion on property revaluations, .12 billion from the mark to market of derivatives, ...