Precinct Properties delivers strong profit result

NZX listed Precinct Properties has today announced its financial results for the 12 months ended 30 June 2018, with net profit after tax (NPAT) up 57.2 percent to $254.9 million.

The quality of Precinct’s portfolio has resulted in a significant portfolio revaluation gain of $208.7 million or 9 percent for the period. As at 30 June 2018, Precinct’s portfolio value increased to around $2.5 billion.

Precinct Properties is the largest city centre real estate owner in New Zealand and CEO Scott Pritchard says the business is committed to its long-term strategy as city centre specialists.