Dexus Property Group has reported a virtual doubling of full-year profit on the back of property revaluations.
Net profit for the 12 months to June 30 of $1.3 billion was up from $618.7 million, while funds from operations lifted 12.2 per cent to $610.8 million, on almost flat revenue of $865.5 million.
The company expects underlying FFO per security to grow by between 3.0 to 3.5 per cent in the 2017 fiscal year, while distribution per security is likely to increase by 2.5-3.5 per cent.
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