AMP Offices has booked a reduced first half profit.
The NZX listed company’s net profit after tax was $20.4 million for the six months ending December 31, down 28.2% from 2010’s half-year npat of $28.4 million.
Rental income was down 5.8% from 2010’s $68.5 million to $64.5 million, caused partly by the sale of Wellington’s Chew Lane property and the exit of Westpac from the PriceWaterhouseCooper building.
The weighted average lease term rose 6.8% from 5.8 years to 6.2 and occupancy was above expectations at 92%.
AMP Office (ANO) shares last traded at 88c on the NZX, up 0.6%.
More in Friday’s NBR print edition.
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