Investa beats FY guidance

Says poor demand driven by political uncertainty, weak confidence.

Investa property group says that business confidence is weak and investment in property has been delayed due to political uncertainty in describing demand for prime office space as below average and demand for secondary office space as “the worst on record.”

The company delivered a 56% gain in full year statutory net profit to $158.7 million for the year, which included a $60 million of asset revaluation. Operating earnings were up 7% to $137.5 million.

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