Record Realty has posted a net profit of $420,000 for the six months to December 31, 2006 ? down 99% when compared to the same period in 2005.
The result was negatively impacted by non-recurring acquisition and refinancing costs of $37.4 million incurred in growing the portfolio.
Without the costs, the net profit would have been $38 million.
Record Realty’s revenue increased 4.4% to $65.18 million.
Australian Property Journal
