Goodman Property Trust in the red following revaluation drop of nearly 5%

Goodman Property Trust is New Zealand’s largest listed real estate entity by market capitalisation. (Image: Goodman Property Trust)

Riley Kennedy

Thu, 18 May 2023

A $237.7 million reduction in the fair value of its properties pushed Goodman Property Trust into the red for the year ended March.However, the New Zealand stock exchange-listed property investor increased operating earnings by 6.9% to $126.5m before tax in the 12 months to March 31.The 4.7% reduction in the fair value of its assets saw its post a net loss of $135.4m, compared to a profit of $748.6m last year, which included fair value gains of $660.4m.Goodman is not alone in seeing valuations push it into the red despite a lift in earnings.&nb...

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