Vital Healthcare’s underlying result belies unrealised losses

Just about all Vital Healthcare Property Trust’s underlying metrics in the first half were positive but a $56.2 million unrealised devaluation meant it reported a bottom-line $31m net loss.The result for the six months ended Dec 31 compared with a net profit of $170.2m for the same six months a year earlier when the bottom line was boosted by a $153.2m unrealised valuation gain.The bottom-line loss was despite net property income rising 24.4% to $72m from $57.9m in the previous first half, although on a like-for-like and constant currency...