This article is from the Australian Property Journal archive
ASX-listed Desane expects to report interim earnings before interest and tax in the range of $3.1 million and $3.3 million, down from $39.7 million in the prior corresponding period which included a non-recurring profit from the sale of its controversial Rozelle asset.
The group will announce its half year results next Monday.
In 2018, it lost a protracted legal battle with the New South Wales government over the compulsory acquisition of its Rozelle property for the WestConnex project. Desane had intended to use the 5,275 sqm site for a master-planned mixed use development.
