Property For Industry lifts first-half earnings 17%

Mon, 08 Aug 2016

By Paul McBeth Aug. 9 (BusinessDesk) - Property For Industry, the commercial property investor, lifted first-half earnings 17 percent as lower interest rates helped cut costs and lease reviews and new purchases lifted rental income. Distributable earnings excluding management fees rose to $17.6 million, or 3.92 cents per share in the six months ended June 30 from $15 million, or 3.64 cents, a year earlier, the Auckland-based company said. That was ahead of First NZ Capital's forecast for earnings of $16.5 million, and PFI said it expects...

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