PRI posts stable full year profit

The company, which last traded flat at 91c, recorded a 2 percent increase on its 2001 profit to $11.38 million (excluding revaluations).

But an unrealised net property revaluation of its portfolio boosted the net surplus to $12.79 million, up 7 percent.

It declared a final dividend of 1.48c per share, bringing the yearly gross dividend to 6.98cps.

Chairman Peter Masfen said the results were achieved in a year when PFI owned fewer investment properties, which lowered revenues, and had more shares on issue.

The net profit and gross dividend per share were the highest since the company listed in 1994.

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