NPT first-half operating earnings rise 14% on increased rental base

Thu, 20 Nov 2014

Nov. 20 (BusinessDesk) - NPT, the listed property investor, reported a 14 percent increase in first-half operating profit as rental income was swelled by new properties including Auckland shopping precinct The Roskill Centre. Operating earnings before one-time items rose to $3.1 million in the six months ended Sept. 31, from $2.7 million a year earlier, the Auckland-based company said in a statement. Gross rental income rose 13 percent to $8.2 million. Net profit dropped 42 percent to $2.6 million, reflecting a property valuation gain in the...

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