Argosy annual profit climbs 36% on revaluation gains, pays slightly bigger dividend

Wed, 22 May 2019

By Paul McBeth May 23 (BusinessDesk) - Argosy Property lifted annual profit 36 percent as it benefited from a sharp increase in the value of its property portfolio, and paid a slightly bigger dividend than expected. Net profit rose to $133.7 million in the 12 months ended March 31, from $98.2 million a year earlier. That included a $70.5 million gain the value of its 60 industrial, office and retail buildings, up from $47.3 million increase a year earlier. Distributable income, on which Argosy bases its dividend payments, increased 5 per...

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