RESEND: Precinct Properties lifts annual profit, guidance as Auckland provides growth

RESEND: Precinct Properties lifts annual profit, guidance as Auckland provides growth
Sophie Boot
(Removes extraneous word in third paragraph) By Sophie Boot Aug. 18 (BusinessDesk) - Precinct Properties New Zealand, the listed commercial property investor, increased annual profit 13 percent and lifted its guidance as it shifted its weighting to Auckland, where it sees long-term growth. Net profit rose to $138.2 million in the 12 months ended June 30, from $122.4 million a year earlier, the Auckland-based company said in a statement. Gross rental revenue fell 14 percent to $146 million. Net operating income, an alternate performa...