Augusta Capital annual profit drops 42% as it changes focus to syndication, management

Mon, 29 May 2017

By Tina Morrison May 30 (BusinessDesk) - Augusta Capital posted a 42 percent drop in annual profit after a reduction in its directly held property portfolio led to it having a smaller increase in the value of its investment properties. The listed property investor and fund manager reported profit fell to $7.8 million, or 8.86 cents per share, in the year ended March 31, from $13.5 million, or 15.46 cents, a year earlier. It booked a $4.1 million gain on the value of its investment property, compared with a $7.1 million gain the previous y...

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