Argosy Property 1H earnings rise 22% as the value of portfolio lifts

Argosy Property 1H earnings rise 22% as the value of portfolio lifts
Tina Morrison
By Tina Morrison Nov. 23 (BusinessDesk) - Argosy Property, the country's fifth-biggest listed property investor by market value, increased first-half earnings 22 percent as it benefited from the rising value of its portfolio and extra cash from the surrender of a lease agreement. Profit rose to $56.2 million, or 6.9 cents per share, in the six months ended Sept. 30, from $46.1 million, or 5.74 cents, in the year earlier period, the Auckland-based company said in a statement. Net property income rose 11 percent to $53.7 million, which incl...