PFI says strong portfolio activity drives higher revenue

Tue, 07 Aug 2018

By Rebecca Howard Aug. 8 (BusinessDesk) - Property For Industry lifted its dividend as strong portfolio activity drove higher revenue. Net profit jumped but largely due to a one-off in the prior period. The Auckland-based company said net profit in the six months to June 30 was $29.6 million, or 5.93 cents a share, versus a loss of $5.6 million in the prior year, or 1.25 cents. It noted, however, the prior year's loss was largely due to the $42.9 million cost of buying out its management contract. The reduction in management fees, ho...

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