Argosy's property income slips as portfolio's value rises

Argosy's property income slips as portfolio's value rises
Argosy CEO Peter Mence sees another challenging year ahead. (Image: Argosy)
Jenny Ruth
Argosy Property's annual net property income fell a little but the bottom line was bolstered by a $163.7 million jump in the value of its properties.That capital gain compared with a $157.7m gain the previous year ended March 2021.The $236.2m bottom line for this year ended March was down from $241.7m the previous year, which was boosted by a $22m insurance payout and a $4.5m forfeited deposit from the failed sale of the Albany Lifestyle Centre.Adjusted funds from operations (Affo) fell to 5.73 cents per share from 7.26c but dividends rose...

More Infrastructure

‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades
Policy

‘Bluewater backbone’: Lyttelton, Auckland ports plan $1b+ of upgrades

Two of the biggest NZ ports are raising prices as they plan major investments.

Oliver Lewis 02 Jul 2025
Cost of Ōtaki to north of Levin highway nears $2b
Infrastructure

Cost of Ōtaki to north of Levin highway nears $2b

In 2020, the lower North Island expressway was costed at just $817m.

Oliver Lewis 01 Jul 2025
The keys to unlocking Northport's land value
Infrastructure

The keys to unlocking Northport's land value

MMH's land is valued at five times less than its next-door neighbour, Channel.

Ian Llewellyn 30 Jun 2025
Food scrap U-turn chills waste sector investment
Infrastructure

Food scrap U-turn chills waste sector investment

The Government’s backtrack on the food waste mandate undermines investor confidence.

Cécile Meier 30 Jun 2025