Devaluations push Goodman Property Trust to $153.4m loss

Huge new Mainfreight building owned by Goodman and shown in its half-year results investor presentation. (Image: Supplied)

Staff reporters

Thu, 23 Nov 2023

New Zealand’s largest NZ stock exchange-listed industrial landlord has pushed up revenue but recorded a loss from a punishing $226.5 million devaluation of its portfolio.That pushed the bottom line into the red.In the six months to Sept 30, Goodman Property Trust recorded a $153.4m loss, a turnaround from the previous corresponding period’s $48.8m profit.Movement in fair value of investment properties was on the profit and loss account at $226.5m, compared to no change previously. Revenue rose from $104.6m to $119.5m, and Goodman sa...

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