Australia's Dexus annual loss widens as high interest rates wipe off property value
Aug 20 (Reuters) -Australia's Dexus DXS.AX posted a wider-than-expected annual loss on Tuesday, as high interest rates wiped off around A$1.9 billion ($1.28 billion) in value of its property portfolio.
The real estate firm posted statutory net loss attributable of A$1.58 billion for the year ended 30 June, much wider than a Visible Alpha consensus of A$488.5 million loss and prior year's A$752.7 million loss.
It has also earmarked assets worth A$2 billion for sale over the next three years to "further enhance the quality of our portfolio".
($1 = 1.4852 Australian dollars)
Reporting by Shivangi Lahiri in Bengaluru; Editing by Mohammed Safi Shamsi
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