Abacus Property (ASX:ABG) has reported a group statutory profit of A$25.5 million in fiscal year 23, marking a decrease of 95.1% from previous figures.

Meanwhile, funds from operations increased to A$175.0 million, up 8.8% from fiscal year 22.

The firm also announced a distribution per security of 18.4 Australian cents during fiscal year 23.

Moreover, Abacus Property confirmed the distribution guidance for fiscal year 24 at 6.0 Australian cents per Abacus Storage King security.

They have also confirmed the guidance of 8.5 Australian cents per Abacus Group security for fiscal year 24, with payout ratio assumed to fall within the range of 85% to 95% of FFO.

Abacus Property is a leading Australian real estate company with a diverse portfolio of investments.