Alexander & Baldwin reports $4.8 million profit in second quarter
Alexander & Baldwin Inc. turned around its finances in the second quarter, earning $4.8 million compared with a $600,000 loss in the same period last year, the company reported today.
Honolulu-based A&B relied on all segments of its business — land development, commercial real estate investments, road paving and agriculture — to produce the gain.
Revenue totaled $98.1 million in the recent quarter, up from $82 million a year earlier.
A&B is Hawaii’s fourth-largest private landowner, with 87,000 acres of land in the state as well as 4.8 million square feet of retail, industrial and office space mainly in Hawaii but also on the mainland. The company also owns road paving contractor and materials supplier Grace Pacific.
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