Goodman Property sees first-half profit down, expects lower 2018 earnings

Wed, 08 Nov 2017

By Sophie Boot Nov. 9 (BusinessDesk) - Goodman Property Trust, the NZX-listed commercial and industrial property investor, saw first-half profit drop more than 40 percent as valuations fell on its investment properties. Net profit was $39.5 million in the six months ended Sept. 30, down from $67.6 million a year earlier, impacted by the shift to an $8.4 million loss in the fair value of investment property compared to a $19.8 million gain a year earlier, the Auckland-based company said in a statement. Pre-tax operating earnings dipped to...

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