Precinct lifts 1H profit 12% on strong occupancy rate, signs DLA Piper for Commercial Bay

Wed, 15 Feb 2017

By Sophie Boot Feb. 16 (BusinessDesk) - Precinct Properties New Zealand, the listed commercial property investor, lifted first-half profit 12 percent as its overall occupancy rate rose to 99 percent and demand for its Commercial Bay development remained strong. Net profit rose to $39.1 million, or 3.2 cents per share, in the six months ended Dec. 31, from $34.8 million, or 2.95 cents, a year earlier, the Auckland-based company said in a statement. Net operating income, an alternate performance measure Precinct uses which excludes non-...

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