St Laurence Property and Finance, which is 34 per cent owned by troubled finance company St Laurence Limited, yesterday announced a net loss after tax of NZ$87.2 million for the year to March 2009. SLPF also said it would seek to exit the property financing market following a review of its assets and objectives.The loss compared to a NZ$28.5 million profit for the year to March 31, 2008, and was attributed mainly to a NZ$52.6 million drop in the value of SLPF's property portfolio. SLPF also announced loan provisioning and write-offs of NZ$17.3 million, as well as readjustments of NZ$3.6 million on investments in associates.Executive chair Kevin Podmore said in a media release that the decline has continued into the second half of the financial year and this, combined with further deterioration in the property development sector, "has had a significant impact on the company's financial results."