Argosy reports improved interim profit

Argosy's portfolio includes 101 Carlton Gore Rd in Newmarket, Auckland. (Image: Supplied)

Wed, 20 Nov 2024

Commercial landlord and developer Argosy Property has reported a net profit of $33 million for the six months to September, up from a loss of $19.3m at the same time in 2023.The result was driven by a $8.7m revaluation gain on Argosy’s portfolio in the interim period, compared with a $50.8m revaluation loss in the prior corresponding six months.Net property income from the firm’s portfolio of over 50 office, industrial and retail properties was flat at $58.4m.However, net distributable income of $27.5m...

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