QUEENSLAND-based property development company AHC Limited has posted an operating loss of $188,000 for the half year ending 31 December 2012.
AHC said the negative result is due a devaluation of an asset, the Worongary shopping centre on the Gold Coast, from $31.5 million to $30.5 million.
Excluding the revaluation loss, the company’s operating profit before tax is approx $242,000 which is 20% below the same period last year’s $306,000.
PropertyReview
