Stride's valuers cut $66.5m from early assessment as crisis intensified

Stride's valuers cut $66.5m from early assessment as crisis intensified
Jenny Ruth
Stride Property Group said its valuers cut $66.5 million off their initial draft valuations provided in early March as the magnitude of the coronavirus crisis became more apparent, turning valuation gains into losses. In the event, the valuers cut $1.8 million off the property portfolio's value to $996.1 million. That was the major reason its bottom line net profit fell 66.8 percent to $25.3 million for the year ended March from the previous year, which had included a valuation gain of $36.5 million. Provided the coronavirus crisis doe...

More Finance

Payments NZ could play key role in open banking standards
Finance

Payments NZ could play key role in open banking standards

A draft decision proposes an 18-month approval, rather than the five years requested.

Ben Moore 01 Jul 2024
Singapore becomes hot spot for M&A bankers hunting Asia deals
Finance

Singapore becomes hot spot for M&A bankers hunting Asia deals

The island is a magnet for parties interested in mergers and acquisitions.

Bloomberg 28 Jun 2024
Medicine working but business confidence continues to fall
Finance

Medicine working but business confidence continues to fall

Confidence in retail and construction rose, while other sectors were more downbeat.

Tom Raynel 27 Jun 2024
Shareholders association opposes Geneva Finance delisting
Finance

Shareholders association opposes Geneva Finance delisting

Company says it will exceed USX governance rules.

Jem Traylen 26 Jun 2024