Cromwell Property posted a statutory loss of $271.4 million for the first half of FY24, driven by a $240.2 million decline in property valuations—an increase from the previous period's $129.5 million loss.

The company achieved an operating profit of $83.7 million, declaring half-year distributions of 1.58 cents per security.

To counter market valuation declines, over $584 million in completed or contracted asset sales occurred, with an additional $528 million expected by June.

The company saw a 1% increase in net operating income from its Australian investment portfolio.