Augusta earnings fall as delayed fund pushes out fees, boosts costs

Fri, 25 May 2018

By Andrew Bevin May 25 (BusinessDesk) - Augusta Capital’s annual earnings dropped 14 percent as delays to the launch of its $118 million industrial property fund meant anticipated fees didn’t eventuate in the period, unlike costs tied to the offer. Adjusted funds from operations, the firm’s favoured earnings measure stripping out fair value movements of its portfolio, fell to $5.8 million, or 6.6 cents per share, in the 12 months ended March 31, from $6.8 million, or 7.7 cents, a year earlier, the Auckland-based company said in a statemen...

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