Augusta Capital first-half profit falls 28% on higher tax, property costs

Wed, 23 Nov 2016

By Tina Morrison Nov. 24 (BusinessDesk) - Augusta Capital posted a 28 percent drop in first-half profit as the listed property investor and fund manager paid more tax, faced higher costs due to the sale of its Auckland Finance Centre, and wrote down the value of its stake in listed property investor NPT. Profit fell to $5.2 million in the six months ended Sept. 30, from $7.2 million in the year-earlier period, the Auckland-based company said in a statement. Its tax expense lifted to $1.3 million from $500,000 a year earlier, it booked $1....

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