Underlying quarterly profit at Property For Industry fell, due to property sales.
Distributable profit fell 8% to $3.7 million in the three months to March compared with the same period a year ago.
Revenue declined 5% to $7.4 million, which general manager, Nick Cobham says is mainly due to the property sales over the past year and lower occupancy rates.
The company's portfolio is currently 96% full and Mr Cobham says filling those vacancies remains its major focus.
The company declared an unchanged payout of 1.55 cents per share.