Kiwi Property first-half profit rises 5% on rental income growth; portfolio valuations flat

Sun, 19 Nov 2017

By Paul McBeth Nov. 20 (BusinessDesk) - Kiwi Property Group lifted first-half profit 5 percent as the country's biggest listed property investor's rental portfolio benefited from new tenants coming on stream, even as the value of its portfolio was flat. Net profit rose to $47.9 million, or 3.53 cents per share, in the six months ended Sept. 30, from $46 million, or 3.56 cents, a year earlier. Earnings per share slipped due to a $161 million share issue in the period. Rental income rose 9.4 percent to $95.1 million due to full contributio...

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