News: Dexus expects earnings lift

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Dexus Property Group (ASX:DXS) says it expects a lift in earnings for the 2014 financial year following strong independent valuations.



The group says it expects a 5.2 per cent increase in earnings in 2014 compared to its forecasts for the previous year.



Chief executive officer Darren Steinberg says the group expected to pay 8.15 cents per security for the year ending June 30 2014, a 5.2 per cent increase on 2013 estimates.



The group says property valuations for the quarter have increased by 4.4 per cent to $58 million on prior book values.



Mr Steinberg says the group expects continued growth despite uncertainty in the market. Dexus Property Group made a net profit of $267 million in the first half of fiscal 2013.