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Dexus H2 2020 DPU Up 6.7% Despite Pandemic

Dexus H2 2020 DPU Up 6.7% Despite Pandemic

February 9, 2021 – Dexus announced its results for the half year ended 31 December 2020, confirming a distribution of A28.8 cents (22.26 US$cents) per security.

Among the other highlights of the second half 2020 report include:

  • Net profit after tax of A$442.9 million (US$342.28 million). This was down 55.5% due to net revaluation gains.
  • Rent collections were at 96% for the Dexus portfolio
  • $1.7 billion of cash and undrawn debt facilities
  • Occupancy of 96% for the Dexus office portfolio and 95.5% for the Dexus industrial portfolio
  • Realised $47.1 million of trading profits (post tax) in HY21 while contracting future trading profits

Dexus Chief Executive Officer, Darren Steinberg said: “Despite the widespread impact of the pandemic, the first half of FY21 has been characterised by increased leasing activity, relatively strong rent collections, initiatives to grow our funds management business and the selective recycling of assets. Our high quality portfolio, the strength of investment demand for quality assets, and our platform capabilities will enable us to drive performance in this next stage of the real estate cycle.”

Read more here..

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