National Property Trust earnings rise

John Crone, general manager of National Property Trust. Photo / Glenn Jeffrey

The National Property Trust has reported earnings of $2.4 million in the third quarter, up slightly from $2.16 million in the previous quarter through higher occupancy rates in the trust's buildings.

The unaudited distributable earnings totalled $6.85 million in the nine months to December 31, which was marginally ahead of forecast.

The result was released by National Property Trust, the manager of the trust.

It indicated that $16.61 million of deferred tax expenses the trust had in the half-year would be reversed in the full-year result owing to changes in accounting rules.

The trust will be making a third-quarter distribution of 1.3329c per unit, which is 90 per cent of earnings for the three months ended December 31.