Augusta lifts 1H earnings 11% as Victoria Dock syndication drives revenue

Thu, 06 Nov 2014

By Paul McBeth Nov. 7 (BusinessDesk) - Augusta Capital, the listed property investor and fund manager, lifted first-half earnings 11 percent as its Victoria Dock syndication helped drive revenue in its funds management unit, and as it bedded in an expanded property portfolio. Distributable earnings, the firm’s favoured measure as it strips out property portfolio revaluations and one-off transactions, rose to $3.61 million, or 4.31 cents per share, in the six months ended Sept. 30, from $3.25 million, or 4 cents a year earlier, the Aucklan...

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