Property investor Goodman Property Trust has reported an eight per cent drop in first-half profit as a fall in the value of its interest rate swaps offset a lift in rental income.

Profit fell to $NZ60.2 million ($A56.04 million) in the six months ended September 30, from $NZ65.4 million in the same period in the previous year, it said. Sales rose 3.5 per cent in the period to $NZ82m, while net rental and related income grew 4.9 per cent to $NZ66.2m. The…