Investore's net profit up 10%; distributable profit down 10%

Wed, 13 Nov 2019

Investore Property's first-half net profit rose 10 percent, with unrealized gains in the value of its "big box" retail properties partly offset by performance fees paid to manager Stride.The company, which owns buildings for supermarkets such as Countdown and Pak'nSave as well as other large-format stores including Bunnings, reported an $11 million net profit for the six months ended September, up from $10 million in the same six months last year.Unrealised valuation gains totaled $1.8 million while Stride's performance fees totaled $1 million,...

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