Precinct 1H earnings rise 10% on improved occupancy, raising $174.1M

Tue, 24 Feb 2015

By Paul McBeth Feb. 25 (BusinessDesk) - Precinct Properties New Zealand, which has been rebalancing its portfolio to Auckland, reported a 10 percent gain in first-half earnings on better occupancy rates at its buildings and will raise $174.1 million to fund a major development programme in the country's biggest city. Net operating income, which adjusts for non-cash items, rose to $35.3 million, or 3.33 cents per share, in the six months ended Dec. 31, from $32 million, or 3.1 cents, a year earlier, the Auckland-based company said in a sta...

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