Goodman Property annual earnings rise 4.2% on cheaper funding costs, new developments

Wed, 18 May 2016

By Paul McBeth May 19 (BusinessDesk) - Goodman Property Trust lifted annual earnings 4.2 percent as the country's second-biggest listed property investor benefited from cheaper interest costs. Pretax operating earnings rose to $117 million, or 9.41 cents per unit, in the 12 months ended March 31 from $112.3 million, or 9.16 cents, a year earlier, the trust's manager, Goodman (NZ), said in a statement. Finance costs dropped 15 percent to $20.5 million in the year, while net rental income slipped 0.7 percent to $133.8 million. The prop...

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