Augusta first-half earnings drop 26% as year-earlier syndication deal washes through

Mon, 16 Nov 2015

By Paul McBeth Nov. 17 (BusinessDesk) - Augusta Capital reported a 26 percent decline in first-half earnings as a year-earlier gain from a syndication deal wasn't repeated and the listed property investor and fund manager predicted volatility in funds management returns. Distributable earnings, which strip out unrealised movements in the value of the property portfolio, dropped to $2.66 million in the six months ended Sept. 30, from $3.6 million a year earlier, the Auckland-based company said in a statement. Funds management net revenue d...

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