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Article: AUST PROPERTY CO CENTRO RETAIL TRUST SEES 20% PROFIT FALL IN FY09/10.(Financial report)
- Article from:
- AsiaPulse News
- Article date:
- November 12, 2009
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MELBOURNE, Nov 12 Asia Pulse - Australian property firm Centro Retail Trust says it expects annual underlying profit to fall by 20 per cent in 2009/10 and net cash flow to be 15 per cent lower.
Centro said on Thursday that economic factors, including movements in the Australian dollar and interest rates, had affected its September quarter results.
As a result, full year underlying profit before abnormal items would be down on the previous year.
Centro Retail reported an underlying annual profit of A$185 million (US$171.96 million) to June 30, 2009, and net operating cash flow of A$40 million during the same period.
The shopping centre ...