Property for Industry FY earnings fall 7.5 percent ; upbeat on 2013

Sun, 17 Feb 2013

Feb 18 (BusinessDesk) - Property for Industry, the listed industrial property investor, reported a 7.5 percent fall in annual earnings as the company rejigged its portfolio with some asset sales and dealt with vacancies in the year, though management is optimistic about the coming year. Distributable profit, the favoured measure for property companies because it strips out unrealised changes in the fair value of its portfolio, fell to $14.6 million, or 6.64 cents per share, in the 12 months ended Dec. 31, from $15.8 million, or 7.21 cents, a...

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