PFI doubles 2018 profit on valuation gains, underlying earnings fall short

Sun, 17 Feb 2019

By Paul McBeth Feb. 18 (BusinessDesk) - Property For Industry more than doubled its calendar 2018 profit as its 94-property portfolio was revalued higher. However, a slightly lower occupancy rate and rising property costs dented underlying earnings, which missed expectations. Net profit for the property investment and management company rose to $110.7 million in calendar 2018, from $51.7 million a year earlier, boosted by $66.4 million valuation gain on its property portfolio. The year-earlier period was also weighed down by a $42.9 mill...

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