Argosy lifts first-half profit 15.2% on valuation gains

By Jenny Ruth | Wed, 20 Nov 2019


Property investor and manager Argosy Property lifted first-half net profit 15.2 percent, boosted by a $50.8 million uplift in the value of its properties. Argosy reported a net profit of $76.9 million for the six months ended September, compared with $66.7 million in the same period last year. The latest valuation gain compares with a $34.6 million uplift in the year-earlier six months. Net distributable income rose 3.5 percent to $29.7 million. The company highlighted the 97.6 percent occupancy rate of its portfolio, the weighted aver...