Argosy goes for growth, but what about earnings?

Argosy chief financial officer Dave Fraser said dividends used to be too high.

Thu, 20 May 2021

Argosy Property has set itself some lofty goals for the next decade, including growing the portfolio by a third, but it can't tell investors what that will do to earnings.Property companies in New Zealand have an unfortunate history of pursuing growth for growth's sake, often delivering poor earnings growth.That's a legacy from the days when most listed property vehicles had external managers, whose fees depended on the size of assets.It seems to have endured, even though many such vehicles, including Argosy, have bought the managem...

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