Fair value gains lift earnings at Guthrie GTS
Guthrie GTS, which is the subject of a privatisation offer, today reported a 254.2 per cent jump in second quarter net profit to $69.4 million, thanks to a large fair value gain on investment properties.
The gain jumped more than six times to $$65.5 million from $8.6 million in the same period last year.
Revenue for the three months to June 30 soared by 42.2 per cent to $97.9 million.
This was mainly attributable to higher revenues achieved by the engineering and property divisions, partly offset by lower revenues from the leisure division.