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Improved property values have driven strong half year profit growth for office, shopping centre and warehouse owner GPT Group.

The company said growth in the underlying value of its properties was supported by higher income from its 16 shopping centres and 24 office blocks in particular.

GPT's net profit of $422 million in the six months to June 30 included a contribution of $146 million from property value increases, and was up 75 per cent on the same period a year earlier.

 
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