PFI's properties gained less in value in 2020

Mon, 22 Feb 2021

Property for Industry's annual net profit fell 35.6% to $135.7 million because the value of its properties rose less this year than last year.Rental income was up 1.4% to $97.4m while adjusted funds from operations rose 3.3% to $40.1m.The value of its properties rose by $72.5m in 2020 after gaining $125.2m the previous year.PFI will pay a 2.25 cents per share fourth-quarter dividend, taking the annual payout to 7.7 cents compared with adjusted funds from operations per share of 8.03 cents. The company said the robust results and foreca...

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