Precinct Properties boosts full-year earnings on acquisitions, higher rental income

Mon, 19 Aug 2013

By Tina Morrison Aug. 20 (BusinessDesk) – Precinct Properties New Zealand, formerly known as AMP NZ Office, boosted full-year net operating income 14 percent as new buildings and higher occupancy levels increased rents. Operating profit, which excludes some non-cash items and is used as the basis of dividend policy, increased to $58.3 million in the 12 months ended June 30, from $51.3 million a year earlier, the Auckland-based company said in a statement. Gross rental income rose 16 percent to $147.7 million. Precinct has been securing new p...

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