Goodman posts slump in FY profit, sees growth in outlook

Group takes hit on derivative, foreign exchange movements, predicts strong operating profit growth in FY14.

Goodman Group (GMG) is predicting growth of 9% in operating profit for the current year despite posting a dramatic slump in full-year profit on the back of a huge hit from currency and derivative movements. 

In the full year to June, Goodman made a net profit of $161 million, 60.6% lower than the $408.3 million recorded in the previous corresponding period.

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