Precinct Property 1H profit drops 55%, monitoring Fletcher Building's Commercial Bay work

Tue, 27 Feb 2018

By Sophie Boot Feb. 28 (BusinessDesk) - Precinct Properties New Zealand, the listed commercial property investor, said first-half profit dropped on property revaluations and shifts in the interest rate swap curve, and it is monitoring Fletcher Building closely in its Commercial Bay development in Auckland. The Auckland-based commercial property investor said net profit dropped 55 percent to $17.7 million in the six months ended Dec. 31, while net operating income, which excludes non-cash items such as unrealised movements in the value of...

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