NAP rakes in P76m profits in maiden results

In a statement accompanying the financials for the six months period ending 31 January, NAP's revenue came in at P55.9 million whilst net income for the period came in at P74 million.  Earnings per linked unit for the company, which is a fund holding Cash Bazaar's P838 million-property portfolio, stood at 12.64 thebe.  In the six months, the company's property portfolio was valued by the directors at P912 million, a four percent rise that takes into account rental escalations. The company also said vacancies by the close of the period stood at two percent.

For the period, NAP declared distribution number one that amounts to 7.23 thebe payable on the 1 June 2012 to unit holders registered by the 18 May 2012. The 7.23 thebe comprises of 6.14 thebe interest and 1.09 thebe dividend.