NPT posts 16% drop in annual profit on smaller lift in valuations

Mon, 25 May 2015

By Tina Morrison May 25 (BusinessDesk) - NPT, the listed property investor, posted a 16 drop in annual profit, reflecting a bigger uplift in the year-earlier period from a revaluation of properties. Net profit fell to $6.4 million, or 3.94 cents per share, in the 12 months ended March 31, from $7.6 million, or 4.71 cps, a year earlier, the Auckland-based company said in a statement. The latest earnings included a $1.2 million boost following a revaluation of its investment properties, lower than the $2.6 million gain booked a year earlier...

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