August 8, 2018 / 10:38 PM / 3 months ago

Australia's Mirvac Group reports fall in annual profit

Aug 9 (Reuters) - Australian property developer Mirvac Group reported a 6 percent fall in full-year profit on Thursday, as a downturn in the country’s residential property market eroded sales.

Net profit fell to A$1.09 billion, from A$1.16 billion a year ago, the company said.

The firm added that it would pay a final distribution of 6 Australian cents per share, from 5.5 cents the previous year.

Reporting by Nikhil Kurian Nainan in Bengaluru Editing by Byron Kaye and Chris Reese

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