A near $300 million drop in the surplus on revaluation of investment properties in the 2023 fiscal year pushed profits down by $200 million for Pulse Investments to $1.57 billion from $1.77 billion in 2022 but the company generated positive cash flows from operations of $145 million compared to $170 million in the previous year.
http://icinsider.com/profit-drops-at-pulse/