Apartment and house developer Devine has posted a $36 million after tax loss and has revealed its liabilities now exceed assets.
Just over five months ago the developer, controlled by construction giant CIMIC, was still forecasting a tax profit of between $10 million to $13 million.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
