Investore's distributable annual net profit up 38%

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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