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

US$411b on the table: will NZ claim a slice?
Primary Sector

US$411b on the table: will NZ claim a slice?

Infrastructure will be a major focus of the NZ EU Summit, but Ukraine might be too.

Dileepa Fonseka 24 Oct 2025
Wellington Airport's half-year passenger numbers down, net loss up
Infrastructure

Wellington Airport's half-year passenger numbers down, net loss up

A fall in domestic passenger numbers has been blamed on Air NZ's fleet problems.

Staff reporters 23 Oct 2025
Marsden Maritime Holdings CEO Rosie Mercer standing down
Infrastructure

Marsden Maritime Holdings CEO Rosie Mercer standing down

Marsden Maritime Holdings' chief executive, Rosie Mercer, is stepping down at the end of the year.After three years in the job, she said the decision was a natural transition point for her and the company, as Marsden Maritime Holdings (MMH) was in a strong position and well-p...

Ian Llewellyn 23 Oct 2025
Property for Industry says valuation cycle turning
Infrastructure

Property for Industry says valuation cycle turning

It cites strong occupancy, lease terms behind and sees strong 2026.

Staff reporters 21 Oct 2025