Diversified property group, Mirvac Group
(ASX:MGR), has recorded a 69% increase in statutory net profit to $1.03 billion in the 2016 financial year.
Behind this result is Mirvac’s acquisition of around $370 million in office, industrial and retail assets in key urban locations. Also, Mirvac says it secured a “record” $2.9 billion in residential pre-sales.
The Group also announced full year distributions of $366 million, which represents 9.9 cents per stapled security and is at the top end of its guidance.
Furthermore, the Group says it continues to attract third party capital and it has secured two new partnerships – with Ping An Real Estate and the China Investment Corporation.
