Goodman profit drops as trust repositions to Auckland industrial property, anticipating growth from online shopping

Sun, 27 May 2018

By Sophie Boot May 28 (BusinessDesk) - Goodman Property Trust, the NZX-listed commercial and industrial property investor, saw profit fall in 2018 as it focused on pivoting to the Auckland industrial market, due largely to smaller revaluation gains in the latest year. Net profit was $194 million in the year ended March 31, from $213.8 million a year earlier, due largely to a smaller fair value gain in the property portfolio of $83.8 million, compared to $114.7 million a year earlier. The company's preferred measure of pre-tax operating ea...

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