GPT Group reported a statutory loss after tax of $200.7 million for the full year due to investment property valuation declines of $770.7 million. The group's net tangible assets per security stand at $5.27. Gearing is at 28.7%, within the target range of 25% to 35%, and liquidity is $1.1 billion. Key executive appointments were finalized, including Merran Edwards as CFO in July 2024 and Mark Harrison as CIO and Matthew Brown as Head of Office in January 2025. The investment portfolio occupancy is at 98.6%. Assets Under Management (AUM) reached $34.1 billion. The GPT Wholesale Shopping Centre Fund (GWSCF) modernisation proposal was approved in November 2024. A retail partnership was established with Perron Group, leading to the acquisition of a 50% interest in Cockburn Gateway and Belmont Forum, Perth for approximately $482 million. The Rouse Hill Town Centre (RHTC) expansion was approved, with the ~$200 million project commencing in the first half of 2025. The retail portfolio occupancy was 99.8% with comparable net property income growth of 4.9%. Logistics portfolio occupancy was 99.5% with comparable income growth of 5.6%. Office portfolio occupancy was 94.7% with comparable net property income growth of 1.9%. The group completed $4.5 billion in new and refinanced debt facilities. A distribution of 12.0 cents per security was declared for the six months to 31 December 2024, payable on 28 February 2025. GPT expects to deliver 2025 FFO of between 32.5 and 33.1 cents per security, representing 1% to 3% growth, and a distribution of 24.0 cents per security.