PFI delivers increased shareholder returns

Friday 26th April 2002

A "disciplined approach" by listed industrial property investor Property for Industry saw shareholders receive a slight increase in their returns in the three months to March.

The company reported net earnings of $2.919 million compared with $2.902 million last year.

Rentals for the period were $5.418 million, a small decrease on last year's $5.594 million after property divestments completed in 2001.

Property for Industry announced a first-quarter dividend of 1.35c a share at the company's annual meeting on Friday. PFI chairman Allan Lockie said the result and the steady dividend reflected the company's disciplined approach.

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