Property for Industry 1H earnings fall 4.9 percent on smaller portfolio, flags reduced dividend

Property for Industry 1H earnings fall 4.9 percent on smaller portfolio, flags reduced dividend
By Paul McBeth Aug. 6 (BusinessDesk) - Property for Industry, whose management contract was sold to DPF Management last year, reported a 4.9 percent drop in first-half earnings after shrinking its portfolio, and warned the annual dividend will be smaller than a year ago. Distributable earnings, the favoured profit measure for property companies because it strips out unrealised changes in the fair value of its portfolio, fell to $7.6 million, or 3.5 cents per share, in the six months ended June 30, from $8 million, or 3.7 cents per share, a y...