Becton announces net loss
But retirement valuations in December hold some good news for the Melbourne-based property group.
Melbourne-based property group and retirement village operator, Becton has advised that it expects to post a net loss of $17-20 million dollars for the half year to 31 December.
In the same period 12 months ago, Becton suffered a net loss of $63.4 million.
The company said it expected to post an operating profit of $2-5 million.
Becton operates eight retirement villages in Victoria, New South Wales, Queensland and Western Australia.
The group’s retirement living portfolio is performing better than the rest of the company’s interests.
While Becton estimates that its commercial property portfolio decreased in value by 1.6 per cent in the first half of the year, it expects a 15-18 per cent increase in the value of its retirement properties.
The full half year results and financial statements will be released on Friday, 26 February.
