Kiwi Income boosts first-half earnings on management savings, Sylvia Park rental growth

Tue, 11 Nov 2014

By Suze Metherell Nov. 12 (BusinessDesk) - Kiwi Income Property Trust, the country's second-largest property trust by market capitalisation, reported a 12.3 percent lift in first-half operating earnings as it saved on external management fees and achieved rental growth from Sylvia Park. Operating profit before other income and tax rose to $42.1 million in the six months ended Sept. 30, from $37.5 million the same period a year earlier, the Auckland-based company said in a statement. Sales rose 1.1 percent to $103 million. Net profit fell...

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