Chow Group posts profit of $8 mln after reverse listing

Thu, 16 Jun 2016

By Edwin Mitson June 16 (BusinessDesk) - The Chow Group, the NZAX-listed vehicle controlled by John and Michael Chow, has posted an unaudited profit after tax of $8 million in its first year as a listed company. The property investor completed a reverse listing by taking over RIS Group in February this year. The majority of its profit was delivered through a change in fair value of investment property, which delivered a gain of $8.35 million. Revenue was $1.07 million. Almost all of the revenue was derived from receipts from customer...

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