Argosy's property income slips as portfolio's value rises

Argosy's property income slips as portfolio's value rises
Argosy CEO Peter Mence sees another challenging year ahead. (Image: Argosy)
Jenny Ruth
Argosy Property's annual net property income fell a little but the bottom line was bolstered by a $163.7 million jump in the value of its properties.That capital gain compared with a $157.7m gain the previous year ended March 2021.The $236.2m bottom line for this year ended March was down from $241.7m the previous year, which was boosted by a $22m insurance payout and a $4.5m forfeited deposit from the failed sale of the Albany Lifestyle Centre.Adjusted funds from operations (Affo) fell to 5.73 cents per share from 7.26c but dividends rose...

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