The worst reporting season has closed with 14 ASX listed companies reporting loses over $1 billion dollars. Contrary to the saying, Safe as houses, 10 of those 14 companies had a core business of . . you guessed it – property.
Centro Properties Group: $3.54 billion
Centro Retail: $2.68 billion
Stockland: $1.8 billion
Valad Property Group: $1.49 billion
Dexus Property Group: $1.46 billion
Macquarie Countrywide: $1.41 billion
Macquarie Office: $1.37 billion
ING Industrial Fund: $1.17 billion
Goodman Group: $1.12 billion
Mirvac: $1.08 billion
ยป Elders caps worst earnings year on record – Business Day, 4th September 2009.