Acucap Properties interim profits surge as vacancies fall

Acucap Properties on Friday said interim earnings surged more than 30%‚ boosted by the reduction in the number of unoccupied units.

The property group reported diluted headline earnings per linked unit of 260.27c in the six months ended September 2014‚ up 31.7% from the 197.57c recorded in the year-earlier period.

Total vacancies fell to 1.8% during the period from 3% in March this year.

Much of the reduction in vacancies was attributed to the successful refurbishment and letting of the Albion Springs office building‚ the company said.

An interim dividend of 168.01c per share was declared‚ up 5.1% in September 2013.

Get commercial property news by email

Free alerts when we publish — pick a focus or get everything, unsubscribe in one click. Subscribe »