Investore first-half profit more than triples on growth in rental income, lower finance costs

Tue, 21 Nov 2017

By Jonathan Underhill Nov. 22 (BusinessDesk) - Investore Property, the property investor spun out of Stride Property last year, said first-half profit more than tripled as acquisitions boosted rental income and it benefited from lower finance costs. Net profit was $11.6 million in the six months ended Sept. 30 from $2.3 million a year earlier, the Auckland-based property investor said in a statement. Net rental income rose to $22 million from $13.3 million. Investore, which is managed by Stride Investment Management, invests in standa...

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