Augusta increases FY earnings 5% as funds management offsets rental decline

Wed, 20 May 2015

By Paul McBeth May 21 (BusinessDesk) - Augusta Capital, the listed property investor and fund manager, increased annual earnings by 5 percent as gains from its funds management business offset a decline in rental income. Distributable earnings after tax, the preferred measure of property investors which strips out unrealised movements in the value of their portfolios, rose to $4.9 million in the 12 months ended March 31 from $4.6 million a year earlier, the Auckland-based company said in a statement. Revenue climbed 35 percent to $18.6 mi...

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