CDL Investments posts 44% gain in first-half profit on surge in section sales

Thu, 31 Jul 2014

By Jonathan Underhill July 31 (BusinessDesk) - CDL Investments, the residential property developer controlled by Millennium & Copthorne Hotels New Zealand, posted a 44 percent gain in first-half profit after doubling its sales of sections at developments in Auckland, Hamilton and Rolleston. Profit rose to $8.2 million in the six months ended June 30, from $5.7 million a year earlier, the Auckland-based company said in a statement. Sales rose to $24.9 million from $15.3 million. CDL sold 133 sections in the first half from its Harrowgle...

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