CORRECT: Kiwi Property lifts first-half earnings by 5.2% as drop in interest costs offsets weaker rentals

Tue, 17 Nov 2015

(Corrects to show gain in first-half distributable income) By Jonathan Underhill Nov. 18 (BusinessDesk) - Kiwi Property Group posted a 5.2 percent gain in distributable income after New Zealand's largest listed property investor cut interest costs, making up for weaker rental income. Distributable income after tax rose to $42.4 million in the six months ended Sept. 30, from $40.3 million a year earlier, the Auckland-based company said in a statement. Net rental income fell 0.9 percent to $76.3 million. Net profit jumped 51 percent to $...

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