News: Dexus posts bumper profits

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Dexus Property Group (ASX:DXS) has generated a full year net profit of $514 million, up 280 per cent on last year. 

 

The result came primarily after a revaluation of investment properties.

 

During the year Dexus engaged in $2.9 billion in transactions, divesting offshore holdings and investing $1.1 billion in the Australian market.

 

Chief executive officer Darren Steinberg says the group has delivered on all of its strategic objectives in a tough operating environment.

 

Distributions for the year were 6 cents per security, up 12 per cent on year and a final distribution of 3.11 cents per security will be paid on August 30.