Augusta lifts net profit six fold as investors flock into new funds

Augusta lifts net profit six fold as investors flock into new funds
Jenny Ruth
By Jenny Ruth May 24 (BusinessDesk) - Augusta Capital’s annual net profit rose more than six fold to a record as underlying income, management fees and transactional fees all grew strongly. The property company’s net profit for the year ended March rose to $6.9 million from $1.04 million the previous year. The year-earlier result was dragged down by a $2.2 million loss on available-for-sale financial assets and fair value losses on investments and associates.   The company launched four new funds during the year and raised $255 million...

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