Tern for the better

TERN Properties Co has reported an attributable profit for the March year of $43.7 million, up from $39.9 million previously.

Turnover fell to $97.9 million from $146 million.

The company booked a $31.9 million exceptional profit from the sale of an investment property.

A final dividend of four cents a share was recommended against 3.5 cents previously, making the total payout for the year 5.5 cents compared with five.