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GPT flags major losses due to coronavirus pandemic – NEWS.com.au
GPT flags major losses due to coronavirus pandemic devaluing property portfolio
Commercial property giant GPT has incurred a more than half a billion dollar financial haemorrhage, as the coronavirus pandemic has significantly slashed the value of its property portfolio.The ASX-listed real estate investment trust posted an interim net loss of $519.1 million for the six months ending June 30, a 247.2 per cent plummet compared with the previous interim result in 2019.
GPT said the profit dent was due to the economic recession causing a total property portfolio devaluation of …
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