Half Year 2024 Cromwell Property Group Earnings Call Transcript
Thank you very much, and welcome to those of you who have joined our call this morning. Firstly, I'd like to acknowledge the traditional custodians of the lands on which we meet, and pay my regards to their elders, past, present, and emerging.
Today, I open this call from the Gadigal land, the Eora Nation. We provide an update on the performance of Cromwell Property Group with insight into our activities and operations for the six months ended 31 December 2023. The ongoing higher interest rate environment impacted our operations and valuations across the group globally, we maintain our focus on the ongoing simplification of the business, continuing to target noncore asset sales to reduce net debt.
Notwithstanding the 584 million of noncore asset sales completed or contracted since the commencement of our asset sale program in December 2021. Gearing remains above our target range. This is as a result of the significant decline in value of our investment portfolio. We anticipate that on completion of the transaction currently
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