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EXCEPTIONAL ITEMS
Exceptional items comprised a loss of $70.4 million
from the divestment of Capital Square and a profit
of $2.5 million form the sale of Bayswater Village
in Sydney. In 2001, the pre-tax loss of
$483.7 million was due to the provision for
write-down in the value of properties held for sale.
EQUITY EMPLOYED
At 31 December 2002, the Group’s equity employed
amounted to $1.7 billion, which was 10% lower
than in 2001. This came from funds provided by
the Company’s shareholders and minority
shareholders in certain subsidiary companies.
The greater part of these funds was utilised by
Property Investment ($1.4 billion), Property Trading
($790 million), and Hospitality and Services (negative
$523 million).
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