CNP 0.00% 4.0¢ cnpr group

media negativity continues

  1. 110 Posts.
    Media cannot help itself. No mention of any of the good points out of announcement, nor the soaring share price:

    http://www.theaustralian.news.com.au/story/0,25197,23289745-643,00.html


    Centro Retail posts $261m loss

    CENTRO Retail Group, a property trust managed by struggling Centro Properties Group, said today it posted a first-half net loss of $260.8 million.

    The trust had reported a net profit of $41.9 million a year earlier.

    The Melbourne-based real estate investment trust's (ASX: CER: quote) first-half sales rose 34 per cent to $66.2 million, from $49.2 million a year earlier.

    Centro Retail said the loss was "a result of a reduction in U.S. retail property values and adverse movements in derivatives, driven primarily by falling interest rates in the US."

    The company won't pay an interim distribution, compared with 6.3 cents a year ago.
 
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