Argosy Property's annual profit has risen, as it didn't incur one-off costs which hit it in the last financial year.
The company made a net profit of $41.8 million, compared with a $4 million loss a year ago.
The turnaround from the loss last year is partly due to the cost of bringing its management in house, and an increase in the value of its properties.
Meanwhile, property income has fallen 2% to $70 million, after it sold 15 buildings last year.
