Serviced office provider Servcorp has been swiftly punished after poor performance during the December quarter in its US operations forced a profit downgrade on Monday.
Listed in Australia and with a global footprint, Servcorp now expects its net profit before tax for this year to come in around $47 million, down from its previous forecast of not less than $56 million.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
