Goodman Property first-half profit drops, reflecting year-earlier revaluation gains

Tue, 10 Nov 2015

By Tina Morrison Nov. 11 (BusinessDesk) - Goodman Property Trust, New Zealand's largest listed property investor, posted a 20 percent drop in first-half profit, after the year-earlier period was boosted by a revaluation gain on its portfolio. Profit slipped to $48.4 million, or 3.8 cents per unit, in the six months ended Sept. 30, from $60.2 million, or 4.77 cents, a year earlier, the Auckland-based company said in a statement. Profit in the first half of last year was boosted by a $13.7 million revaluation gain on investment properties....

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