CDL Investments lifts 1H profit 3.6% on 'satisfactory' property sales

Thu, 30 Jul 2015

By Paul McBeth July 30 (BusinessDesk) - CDL Investments, the residential property developer controlled by Millennium & Copthorne Hotels New Zealand, lifted first-half profit 3.6 percent on what it called "satisfactory" sales which reflected the current market. Net profit rose to $8.5 million, or 3.08 cents per share, in the six months ended June 30, from $8.3 million, or 2.99 cents, a year earlier, the Auckland-based company said in a statement. Revenue fell 4.1 percent to $23.9 million, and the improved margin came through lower cost of...

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