Property For Industry posts 1H loss on internalisation costs

Tue, 08 Aug 2017

By Tina Morrison Aug. 9 (BusinessDesk) - Property For Industry, the industrial property investor, posted a loss in the first half of its financial year after paying for the termination of its management agreement. The Auckland-based property investor reported a loss of $5.6 million, or 1.25 cents per share, in the six months ended June 30, from a profit of $22.5 million, or 5.01 cents, a year earlier, it said in a statement. The earnings included $42.9 million of costs for terminating its management contract and taking the function in-ho...

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