GPT Group, the Australian property trust unloading overseas investments, returned to profit in the second half after selling assets and paying off debt.
Net profit for the six months to 31 Dec was A$124.9m, based on subtracting first-half profit from 2009 earnings reported by the Sydney-based company today. The loss was A$2.8bn in the second half of 2008. Full-year operating profit of A$375.8m beat a company forecast.
bloomberg.com. The Australian