Property For Industry boosts profit 21% in first-half, reflecting merger gains

Tue, 12 Aug 2014

By Suze Metherell Aug. 13 (BusinessDesk) - Property For Industry, the industrial property investor, lifted first-half profit 21 percent, a year on from its merger with Direct Property Fund which increased its portfolio by two-thirds. Profit rose to $14.42 million for the six months ended June 30, from $11.87 million a year earlier, the Auckland-based company said in a statement, just below Forsyth Barr’s forecast of $14.8 million. Rental income more than doubled to $32.07 million, while operating expens...

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