Argosy Property half-year profit down 92%

Tue, 22 Nov 2022

Real estate investment company Argosy Property has posted a net profit of $10.7 million for its Sept 30 half-year results, a 92% drop from the same period last year. Revenue from operations was $55m, up 3.6% from the Sept 2021 half-year results.The company adopted a total unrealised revaluation loss of $23.5m, or a 1% decrease in book value for the period. Because of this, Argosy’s net tangible assets per share decreased to $1.72 from $1.74 at March 31 this year.Chair Jeff Morrison said although there was little transactional evidenc...

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