Kiwi Property lifts FY earnings 4.5% on lower costs, looks to raise $151.9 mln

Sun, 17 May 2015

By Paul McBeth May 18 (BusinessDesk) - Kiwi Property Group, the country's biggest listed property investor, increased annual earnings 4.5 percent as it benefited from lower costs after bringing management in-house, and is seeking to raise $151.9 million to help fund the expansion of the Sylvia Park retail precinct. Distributable earnings after tax, which strip out movements in the value of its property portfolio, rose to $79.7 million in the 12 months ended March 31, from $76.3 million a year earlier, the Auckland-based company said in a...

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