Property For Industry boosts full-year profit 21% on property value uplift

Sun, 14 Feb 2016

By Sophie Boot Feb. 15 (BusinessDesk) - Property For Industry, the listed industrial property investor, increased annual profit 21 percent with an uplift in the value of investment properties strengthening the balance sheet. Net profit rose to $72.8 million, or 17.25 cents per share, in the 12 months ended Dec. 31, from $59.9 million, or 14.55 cents, a year earlier, the Auckland-based company said in a statement. Operating revenue rose 4.9 percent to $66.9 million. Non-operating earnings jumped 48 percent to $43 million, reflecting a $...

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