Precinct Properties lifts FY profit 17%, upbeat on development pipeline for 2018

Wed, 16 Aug 2017

By Rebecca Howard Aug. 17 (BusinessDesk) - Precinct Properties New Zealand, the listed commercial property investor, increased annual profit 17 percent and was positive about the current financial year as it completes its development pipeline. It's also considering issuing $150 million in subordinated convertible notes. Net profit rose to $162.1 million in the 12 months ended June 30, from $138.2 million a year earlier, the Auckland-based company said in a statement. Net operating income, which excludes non-cash items such as unrealised...

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