An announcement from Abacus Property Group ( (AU:ABG) ) is now available.
Abacus Property Group reported a statutory net loss of $5.7 million for the half-year ending December 2024, largely due to devaluations in office properties. Despite this, the Group experienced growth in other areas, such as a 12% increase in operating earnings from its office portfolio and a 15.4% rise in retail earnings, driven by higher occupancy and rent growth. The company remains optimistic about its strategic investments, particularly in the self-storage sector, which saw significant returns. Abacus maintains its FY25 distribution guidance, indicating confidence in future performance despite current challenges.
More about Abacus Property Group
Abacus Property Group is a prominent player in the real estate industry, focusing on investment management and property development. The company has diversified interests, including commercial and retail assets, as well as a strategic stake in the self-storage sector through Abacus Storage King.
YTD Price Performance: 10.0%
Average Trading Volume: 579,526
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: A$1.08B
Learn more about ABG stock on TipRanks’ Stock Analysis page.