Arvida’s underlying profit up 42%, boosted by Arena purchase

Arvida’s underlying profit up 42%, boosted by Arena purchase
Chief executive Jeremy Nicoll says Arena’s results highlighted the rationale for its acquisition. (Image: Supplied)
Jenny Ruth
Arvida lifted annual net profit by 52% as the value of its profits rose and its $345 million Arena acquisition performed better than expected.The Arena portfolio of six retirement villages is now valued at $70.3m more than the purchase price – the acquisition was settled on November 15 – and the overall gain in value was $156m, compared with the previous year’s $121.3m gain.The portfolio is now worth $3.4 billion, up from $2.2b a year ago.Net profit for the year ended March rose to $198.9m, while underlying net profit was up 4...

More Infrastructure

Malaysian developer launches apartments, eyes opportunities
Infrastructure

Malaysian developer launches apartments, eyes opportunities

Christopher Luxon personally asked MRCB to attend investment summit.

Aussie infra investor commits to five NZ PPP bids
Infrastructure

Aussie infra investor commits to five NZ PPP bids

Plenary says NZ is a 'priority market' and confirms Northland Expressway bid.

Chris Bishop is ‘frustrated‘ at the pace of change
Infrastructure

Chris Bishop is ‘frustrated‘ at the pace of change

Bishop speaks about unlocking housing and transport ‘affordability’ issues.

Oliver Lewis 12 Mar 2025
Winston Peters appoints new ferry finders
Infrastructure

Winston Peters appoints new ferry finders

Katherine Rich and Captain Iain MacLeod join the board of Ferry Holdings.

Oliver Lewis 11 Mar 2025