Stride Property Group posts 21% gain in 1H earnings after restructure

Stride Property Group posts 21% gain in 1H earnings after restructure
Tina Morrison
By Tina Morrison Nov. 17 (BusinessDesk) - Stride Property Group, which manages 71 properties worth $2 billion, posted a 21 percent gain in first-half earnings after restructuring its business. Distributable profit, the favoured measure of property investors as it strips out unrealised movements in the value of their portfolio, rose to $18.7 million, or 5.12 cents per share, in the six months ended Sept. 30, from $15.4 million, or 5.19 cents, a year earlier, the Auckland-based company said in a statement. Net rental income rose 25 perce...