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

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