Ps Business Parks (PSB) has reported 24.57 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $36.13 million, or $0.47 a share in the quarter, compared with $29 million, or $0.55 a share for the same period last year.    

Revenue during the quarter grew 3.22 percent to $97.73 million from $94.68 million in the previous year period.

Cost of revenue rose 5.85 percent or $1.70 million during the quarter to $30.67 million. Gross margin for the quarter contracted 78 basis points over the previous year period to 68.62 percent.

Total expenses were $58.15 million for the quarter, down 0.66 percent or $0.39 million from year-ago period. Operating margin for the quarter expanded 232 basis points over the previous year period to 40.50 percent.

Operating income for the quarter was $39.58 million, compared with $36.15 million in the previous year period.      

Revenue from real estate activities during the quarter increased 3.22 percent or $3.05 million to $97.60 million.

Net receivables were at $1.94 million as on Dec. 31, 2016, down 12.94 percent or $0.29 million from year-ago. 

Real estate investments stood at $67.19 million as on Dec. 31, 2016, up 151.31 percent or $40.45 million from year-ago.

Total assets declined 3.08 percent or $67.29 million to $2,119.37 million on Dec. 31, 2016. On the other hand, total liabilities were at $308.66 million as on Dec. 31, 2016, down 5.34 percent or $17.40 million from year-ago.

Return on assets moved up 7 basis points to 1.88 percent in the quarter. At the same time, return on equity moved up 44 basis points to 2 percent in the quarter. 

Shareholders equity stood at $1,810.71 million as on Dec. 31, 2016, down 2.68 percent or $49.88 million from year-ago.