Shopping Centre Investments FY net profit $6.1m in ‘eventful’ year

Shopping Centre Investments Ltd has been listed on the Unlisted securities exchange since 2022. (Image: File)

Mon, 17 Jun 2024

The company that owns Christchurch’s The Hub reported a return to net profit after a year of "careful endeavour".Shopping Centre Investments (SCIL), listed on the Unlisted securities exchange (USX), made a profit attributable to shareholders of $6.1 million from the year to Feb 29.This was up from a $6.1m net loss in 2023 after higher interest rates and other factors led to an almost $10m negative adjustment to the fair value of the property.In the year to Feb 29, company gross profit dropped 5% to $9.5m while rental income rema...

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