NPT returns to profit in first half as Eastgate mall revives, property values rise

Sun, 18 Nov 2012

Nov. 19 (BusinessDesk) - NPT, the listed property investor, returned to profit in the first half, reflecting an increase in the value of its rejuvenated Eastgate Shopping Centre in Christchurch after the value of property tumbled in the year earlier period. Profit in the six months ended Sept. 30 was $8.77 million, or 5.42 cents a share, from a loss of $9.83 million, or 6.07 cents a year earlier, the Wellington-based company said in a statement. Net rental income fell to $5.6 million from $9.1 million. Profit a year ago was wiped out by a $2...

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