Property

Kiwi Property lifts operating income amid improving trading conditions

Jenny Ruth
Mon, 23 May 2022

Kiwi Property lifts operating income amid improving trading conditions

CEO Clive Mackenzie said the market is undervaluing Kiwi's portfolio. (Image: Kiwi Property)

Jenny Ruth
Mon, 23 May 2022

Kiwi Property Group lifted its annual net profit by 14.1% amid improved trading conditions and the rising value of its properties.Net profit for the year ended March rose to $224.3 million, from $196.5m the previous year.The latest result includes a $120.5m gain in the value of Kiwi's properties to $3.6 billion, compared with a $99.8m gain the previous year.Adjusted funds from operations (Affo), a key metric for investors, rose 12.3 cents per share, allowing Kiwi to pay 5.6cps in dividends, up 0.45c, or 8.7%, on the previous year.Chief exec...

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