NPT full-year distributable profit rises 1% on little-changed rental income

Mon, 23 May 2016

By Jonathan Underhill May 23 (BusinessDesk) - NPT, the listed property investor whose managing director Kerry Hitchcock left suddenly in March, reported a 1 percent gain in full-year distributable profit and said it will lift its dividends for 2017, a year in which it is focused on keeping a lid on corporate and management expenses. Distributable profit, which excludes fair value changes and lease adjustments, was $6.1 million in the 12 months ended March 31, from $6 million a year earlier. Net rental income rose 0.4 percent to $11.5 mill...

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