Argosy lifts annual earnings 5% as portfolio shift drives up rental income

Wed, 25 May 2016

By Paul McBeth May 26 (BusinessDesk) - Argosy Property, the country's fourth-biggest listed property investor by market value, lifted distributable earnings 5 percent as a shift in the company's portfolio helped lift rental income. Distributable profit, the preferred measure for property investors which strips out unrealised movements in the value of their portfolio, rose to $50.4 million, or 6.25 cents per share, in the 12 months ended March 31 from $48 million, or 6.02 cents, a year earlier, the Auckland-based company said in a stateme...

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