Goodman Property lifts 1H profit by 38%, continues to rebalance portfolio

Wed, 09 Nov 2016

By Sophie Boot Nov. 10 (BusinessDesk) - Goodman Property Trust, the NZX-listed commercial and industrial property investor, lifted first-half profit 38 percent, largely due to valuation gains on its investment properties, and maintained its full-year guidance. Net profit rose to $67.6 million, or 5.28 cents per share, in the six months ended Sept. 30, from $48.4 million, or 3.8 cents, a year earlier, the Auckland-based company said in a statement. Revenue slipped 0.5 percent to $82.8 million, though property expenses decreased meaning net...

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