Development

July 29, 2014

Owner of Country Club Plaza reports a smaller profit despite higher revenue

Highwoods Properties, based in Raleigh, N.C., said earnings fell to $22.7 million in the three months that ended June 30. That’s down from earnings of $27.5 million in the second quarter last year.

Highwoods Properties Inc., which owns the Country Club Plaza, on Tuesday reported a smaller second-quarter profit despite a sharp rise in revenue.

The Raleigh, N.C., company said earnings fell to $22.7 million in the three months that ended June 30. That’s down from earnings of $27.5 million in the second quarter last year.

Rental income and other revenue climbed to $152.72 million during the quarter from $132.61 million in the 2013 second quarter.

| The Star

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