Arvida's 1H net profit dips on lower portfolio valuation

Mon, 20 Nov 2017

By Rebecca Howard Nov. 21 (BusinessDesk) - Arvida Group, the retirement village company that listed in 2014, reported a decline in first-half profit on lower valuation gains and higher employee costs after a pay equity deal. Net profit fell to $14.5 million in the six months ended Sept. 30 from $19.4 million a year earlier. The result included an $8.9 million valuation gain on its investment properties from a $14.3 million gain a year earlier as the property market shows signs of slowing after several years of solid growth. "Whilst we...

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