Arvida lifts first-half per-share earnings 10%

Arvida lifted first-half net profit by 18% while underlying profit was up 46%, reflecting recent acquisitions.The retirement village operator lifted net profit for the six months ended September to $89.2 million from $75.5m in the same six months last year with unrealised property valuation gains of $89m, up from $69.1m in the previous first half.The underlying result of $38.9m was up from $26.6m in the year-earlier period and will translate to a 10% increase in per-share earnings – the company raised $330m from selling new shares last No...