Australand H1 net profit slips

Australand Property Group Ltd expects an uptick in leasing activity to boost its full-year earnings despite posting minor declines in both first-half net profit and revenue.

In the six months to June 30, Australand's net profit was $88.415 million, 1% lower than the $89.672 million recorded in the previous corresponding half.

In the same period, revenue from continuing operations also took a hit, coming in at $391.510 million, a 9% fall on the previous first half's $430.483 million.

The group will pay an unfranked interim dividend of 10.5 cents, payable on August 7.