Investore's distributable annual net profit up 38%

Staff reporters
Tue, 18 May 2021

Investore Property's manager said annual net profit rose more than fivefold as the value of its "big box" retail properties jumped while distributable profit rose 38%.The company, which owns supermarkets such as Countdown and Pak'nSave as well as other large-format stores including Bunnings, reported net profit of $161.3 million for the year ended March compared with $28.6m the previous year with property revaluations adding $139.3m.That took the portfolio's value to $1.04 billion at March 31, up 15.5% from a year earlier....

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