Kiwi Property lifts operating income amid improving trading conditions

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

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...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

On the Money

On The Money: Fisher Funds, FirstCape, NZX snacks, and more...

Our regular weekend round-up of corporate (and other) ephemera.

Pattrick Smellie 20 Apr 2024

Economy

Simon Robertson: How to discourage wealth

Let NZers invest $1 offshore without making the starting point 95c every year.

Simon Robertson 20 Apr 2024

Infrastructure

AI is a humungous electricity hog. That’s great

Who better to drive clean-energy investment than some of the world’s biggest firms?

Bloomberg 20 Apr 2024

AI is a humungous electricity hog. That’s great

Sponsored

Boosting rural growth with innovation

Productivity and sustainability go hand in hand for the rural sector

ASB Scam Update

Sponsored

Auckland's new "Midtown" taking shape

5-star hybrid workspaces, combined with the City Rail Link, are creating a revitalised inner-city zone designed to motivate workers back to the office.

Alberts