Goodman Group swung to a net loss in the first half after more than A$1bn of asset writedowns.
Australia’s largest industrial real estate investment trust has posted a net loss of A$465.9m for the six months to 31 December, compared with a profit of A$284.9m a year ago.
Writedowns included A$487m in asset values and $171m for the fall in the value of listed investments. An A$420m non-cash mark-to- market valuation loss also was recorded against derivative positions.
The group's shares plunged 18.3% to 25 cents in response to the news.