Argosy lifts first-half earnings 6.2% as scarce Auckland office space drives rental growth

Sun, 15 Nov 2015

By Paul McBeth Nov. 16 (BusinessDesk) - Argosy Property, the investment group that has added industrial properties to its office and retail sites, lifted first-half earnings 6.2 percent as a lack of space in Auckland's office market drove growth in the company's rental income. Net distributable income, which strips out changes in the value of property, rose to $24.9 million, or 3.1 cents per share, in the six months ended Sept. 30, from $23.4 million, or 2.95 cents, a year earlier, the Auckland-based company said in a statement. Rental in...

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