Arvida's underlying net profit steady as it moves to half-yearly dividends

Jenny Ruth
Tue, 25 May 2021

Arvida's annual net profit rose more than three-fold as a result of unrealised property revaluations but the underlying result was flat because of the impact of covid-19 countered by a very strong second half.Net profit for the year ended March rose to $131.1 million from $42.6m the previous year with unrealised gains contributing $121.3m to the latest result.Chief executive Bill McDonald said the underlying second-half result was up 53%, offsetting the additional costs incurred in the first half to cope with the covid pandemic."While...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

The Quiz FREE
QuiznessDesk, Tuesday, July 05, 2022
The Quizmaster | Tue, 05 Jul 2022

Don't forget to give our daily quiz a go. Good luck

Law & Regulation
Juice magnate Lepionka sues lawyers for 'negligent' advice
Greg Hurrell | Tue, 05 Jul 2022

Businessman Stefan Lepionka's negligence case against Gibson Sheat will be split in two, with the law firm's countersuit to be heard first, the high court has ruled.

George Kerr's Pyne Gould receivership continues
Victoria Young | Tue, 05 Jul 2022

Court action continues in the UK, while receivers have already clawed back $8m for the BNZ by selling South Island land.

How can Kiwi small business owners manage rising inflation?

Xero MD Craig Hudson says small businesses have been hit with a triple whammy.

Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges