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NZ's Precinct Properties profit steady
August 12, 2014 / 9:22 PM / 3 years ago

NZ's Precinct Properties profit steady

WELLINGTON, Aug 13 (Reuters) - New Zealand commercial property investor Precinct Properties Ltd reported on Wednesday a flat full year profit despite a lift in earnings.

The company, which owns central city office buildings and shopping centres, said its annual profit for the year to June 30 was NZ$117.2 million ($98.82 million) compared with the previous year’s NZ$157.5 million, which had included a NZ$39.7 million tax credit.

Excluding the tax credit the net result was virtually unchanged from the previous year, with net operating income rising 9.4 percent.

It declared a dividend of 5.4 cents a share compared with 5.12 cents a year ago.

$1 = NZ$1.1860

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