NPT posts unchanged annual profit as new manager Augusta lines up acquisitions

Mon, 28 May 2018

By Paul McBeth May 29 (BusinessDesk) - NPT reported flat annual earnings in a year where the listed property investor was wooed by rivals for its management contract and ultimately won by cornerstone shareholder Augusta Capital, which plans to expand NPT's small portfolio. Net profit was largely unchanged at $3.1 million, or 1.91 cents per share, in the 12 months ended March 31, with a $4.5 million gain on the sale of NPT's management contract more than offset by a $3 million loss on the sale of a building and a $2.9 million negative rev...

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