Augusta more than doubles 1H profit on change of business model

Paul McBeth
Wed, 28 Nov 2018

By Paul McBeth Nov. 29 (BusinessDesk) - Augusta Capital more than doubled first-half profit as it reaped more income from funds management and year-earlier costs from its move away from direct property ownership weren't repeated.  Net profit climbed to $5.1 million in the six months through September from $2.3 million a year earlier when it recognised a $1.5 million loss on the sale of a building. Augusta has been reshaping itself away from directly investing in property to focus on property syndication and funds management. That's ref...

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