Argosy says time to sell with market near peak as FY earnings edge higher on flat rents

Wed, 23 May 2018

By Paul McBeth May 23 (BusinessDesk) - Argosy Property lifted annual earnings 2.1 percent on flat rental income and said it will cut its retail exposure over the next 18 months, with real estate selling at "attractive prices" and the market near a cyclical peak. Distributable income, which strips out movements in the property portfolio, increased to $54.6 million, or 6.62 cents per share, in the 12 months ended March 31, from $53.5 million, or 6.55 cents, a year earlier, the Auckland-based company said in a statement. Net property income...

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