NPT lifts 1H profit as it mulls hostile bid from Augusta Capital

Mon, 21 Nov 2016

By Sophie Boot Nov. 22 (BusinessDesk) - NPT, the listed property investor, lifted first-half profit 2.3 percent and says it's still considering a hostile bid from rival Augusta Capital. Operating profit before gains and losses, the preferred measure for property investors as it removes changes in the value of their portfolios, rose to $3.4 million in the six months ended Sept. 30 from $3.3 million a year earlier, the Auckland-based company said. Gross rental income dipped 0.5 percent to $8.4 million, with revenue from its commercial pr...

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