PFI boosts 1H profit, will raise $49.5m to fund developments

Mon, 10 Aug 2015

By Suze Metherell Aug. 11 (BusinessDesk) - Property For Industry, the listed industrial landlord, nearly doubled its first-half profit on a valuation uplift for its portfolio and said it will tap investors for $49.5 million for acquisitions and developments. Profit rose to $36.4 million, or 8.85 cents per share, in the six months ended June 30, from $14.4 million, or 3.5 cents, a year earlier, the Auckland-based company said in a statement. Operating revenue was little changed at $32.1 million, with the bulk of the bottom line gain comin...

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