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Australia's Mirvac falls after annual loss, bleak outlook



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** Shares of Mirvac Group MGR.AX fall as much as 12.3% to A$1.85, their lowest since July 10

** Stock posts its biggest intraday pct fall since March 19, 2020

** The property investment firm posts FY loss attributable of A$805 mln ($524.22 mln), compared with FY23 loss of A$165 mln

** Says earnings for next year are expected to be lower while market conditions are likely to remain challenging

** About 18.5 mln shares change hands, compared with the 30-day average volume of 17.7 mln

** Stock has risen about 1% this year, as of last close


($1 = 1.5356 Australian dollars)



Reporting by Sneha Kumar in Bengaluru

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