Ariadne, the investment company that wants two board seats at Ardent Leisure, sought to highlight its turnaround and investor credentials with annual results on Monday that showed soaring earnings growth.
Net profit at Ariadne, headed by Gary Weiss and Kevin Seymour, jumped to $79 million in the year to June from $11 million due to the sale for $75 million in December of its 50 per cent stake in Secure Parking. Net pre-tax profit within its investments unit nearly doubled to $11.9 million from $5.6 million.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
