Argosy Property lifts first-half profit 25% on occupancy boost, divestments

Tue, 18 Nov 2014

By Suze Metherell Nov. 19 (BusinessDesk) - Argosy Property Fund lifted first-half earnings 25 percent as New Zealand's fourth-largest listed property investor boosted its occupancy rate and sold non-core assets. Profit attributable to security holders rose to $37.6 million in the six months ended Sept. 30, from $30.1 million a year earlier, the Auckland-based company said in a statement. Sales rose 8.7 percent to $43.8 million. Its occupancy rate rose to 99.1 percent from 97.3 percent a year earlier. The company is reducing exposure t...

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