Mirvac eked out a $1 million net profit over the six months to December as the impact of devaluations on the company’s investment assets softened from a year earlier, lifting the developer and landlord out of a statutory loss.
Devaluation losses that eased to $139 million from $396 million in the prior comparative period allowed Mirvac to recover from a $201 million net loss after tax, as the company on Friday said it had achieved a “solid” result.
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