Portfolio activity a plus for PFI

Strong portfolio activity has lifted listed industrial property investor Property For Industry to a net first-half profit of $7.29 million, up 6.8 per cent on a normalised basis.

General manager Ross Blackmore said the company had completed more transactions in May and June than any comparable period in its history.

The company's bottom-line result had been boosted by extraordinary items, including some tax refunds relating to previous years. Rentals were $15.3 million, a 9 per cent or $1.25 million increase on the same period last year due to new acquisitions and developments and rent rises.

- Agencies