Hi WR888,
From Page 7 of the presentation:
"Lower statutory net profit from reduced uplift in investment property valuations (FY18: +$31.6m v FY17 +$66.9m)"
This resulted in statutory net profit falling from 96.8million to 64.4 million across the Fin Years.
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The valuations arn't really the key factor, as property income increased from 37.4 to 43.1 million.
This led to the net operating profit increasing from 28.7 to 34.7 million - a 21% increase, and hence - the increase in projected DPS.
As far as a hotcopper newsflash goes, it probably doesn't quite paint the right picture.
Hi WR888, From Page 7 of the presentation: "Lower statutory net...
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