Photo / SuppliedBottom-line profit from $3.3 billion industrial and logistics landlord Goodman Property Trust dropped in the first half of this year compared to last year due to less-spectacular property revaluations. Property valuations were the main influencer, rising $172.4m in last year's first half but $140.2m in this latest period. "We've adapted to the disruption of Covid-19 and continued to execute our investment strategy for the Trust. New acquisitions, further development progress and recent capital management initiatives have maintained positive momentum in the business," Smith said. The trust has $87.7m of development work on, including the recommenced 9000sq m warehouse project at M20 Business Park in Wiri.

Source: New Zealand Herald November 23, 2020 00:30 UTC