Stride Property first-half profit rises 44% on management fees, lower costs

Wed, 22 Nov 2017

By Jonathan Underhill Nov. 23 (BusinessDesk) - Stride Property Group, which spun out its retail portfolio into a separately listed vehicle last year, posted a 44 percent gain in first-half profit as growth in management fees and lower costs made up for a decline in rental income. Net profit rose to $33.3 million in the six months ended Sept. 30, from $23.2 million a year earlier, the Auckland-based company said in a statement. Net rental income fell to $28.7 million from $29 million while management fee income rose to about $6.5 million f...

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