Property For Industry reports record FY profit

Sun, 12 Feb 2017

By Rebecca Howard Feb. 13 (BusinessDesk) - Property For Industry, the industrial property investor, reported a record full year profit on higher revenues and lower costs and remained upbeat about the current financial year. Net profit rose to $123.4 million, or 27.4 cents per share, in calendar 2016 from $72.8 million, or 17.3 cents, in the prior year, the Auckland-based property investor said in a statement. It noted that non-operating income and expenses which, for the most part, comprised an $88.2 million fair value gain on investment...

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