Dexus books $483M full year profit

• Dexus reported fiscal year 2026 adjusted funds from operations of $483.9 million and completed a $2 billion divestment programme.
• The company's share price fell 2.5% to $5.78 following the release of a softer earnings outlook for the next financial year.
• Management stated that the business aims to transition towards a more capital-efficient model while managing ongoing infrastructure fund reviews.

Real estate investment trust Dexus (ASX:DXS) reported adjusted funds from operations of $483.9 million for fiscal 2026.

The performance met the company's full-year guidance and compared against statutory net profit after tax of $482.2 million.

The property portfolio maintained high occupancy across the Dexus office portfolio of 95.7% and the Dexus industrial portfolio of 94.6%, with rent collections remaining strong at 99.7%.

“We have made tangible progress on the priorities that will drive long-term resilience and growth, raising $2 billion in third-party capital and securing the Boral partnership to build a capital efficient development pipeline,” said Dexus Group CEO and Managing Director Ross Du Vernet.

The company stated that the transaction is expected to position the business with a capital efficient development pipeline, alongside raising $2 billion in third-party capital.

Following the announcement, the Dexus share price was down at $5.78.

Earlier, the business completed a $2 billion divestment programme ahead of fiscal 2027 to strengthen its balance sheet.

The group also maintained high office portfolio occupancy at 95.7% while reducing corporate costs by 6%.