Higher fees, interest drag Investore’s first-half profit down 14%

Sun, 18 Nov 2018

By Jenny Ruth Nov. 19 (BusinessDesk) - Investore Property’s first-half net profit fell 14 percent as management fees increased, its interest bill rose and the value of its properties fell. The supermarkets and other large retail store investor’s net profit for the six months ended Sept. 30 fell to $10 million from $11.6 million in the same six months last year. The manager’s fees, including items such as building management and leasing fees, rose 13 percent to $2.5 million while interest costs rose 23.9 percent to $7.2 million. The...

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