Investore annual earnings rise 16% as Bunnings acquisitions bolster rental income

Sun, 27 May 2018

By Paul McBeth May 28 (BusinessDesk) - Investore Property, the large-format retail landlord spun out of Stride Property, boosted annual earnings 16 percent as the acquisition of three Bunnings stores added to rental income and reduced its reliance on Countdown supermarkets. Distributable profit, a favoured measure of listed property firms which strips out revaluation movements and the impact of property sales, rose to $20.5 million in the 12 months ended March 31 from $17.6 million a year earlier, largely in line with its 2016 prospectus...

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