PAYCE Consolidated has seen its annual result dive 166%, the company said write downs against property assets has resulted in a net loss of $17.44 million for FY08.
The company said the loss was associated with impairments and write downs against property assets rather than operational issues.
Payce’s operational result was a profit of $3.44 million.
Payce said it is reducing its reliance upon the development of its land holdings at
No dividend was declared.
Australian Property Journal
