Kiwi Property earnings climb 8.2% as acquisitions, finished developments spur higher rents

Sun, 20 May 2018

By Paul McBeth May 21 (BusinessDesk) - Kiwi Property Group lifted annual earnings 8.2 percent as the real estate investor's rental income was boosted by the completion of several developments and new acquisitions, although smaller revaluation gains led to a fall in bottom line profit. Funds from operations, the company's new preferred earnings measure which strips out a number of items including fair value movements, rose to $111.3 million in the 12 months ended March 31 from $102.8 million a year earlier, with rental income up 5.2 perce...

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