Asset Plus profit gains on cheaper operating costs, interest bill

Wed, 29 May 2019

By Paul McBeth May 29 (BusinessDesk) - Asset Plus lifted its annual profit as its external management contract with Augusta Capital and a smaller debt load helped cut costs. The property investor is repositioning its portfolio under the new oversight of Augusta, with a view to buying new buildings where it can unlock value. The external management was seen as a way to improve shareholder return by cutting the company's operating costs, and was a key factor in a 40 percent drop in administration costs to $1.8 million in the 12 months ende...

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