Kiwi Property posts 27% gain in first-half profit as property revenue growth outpaces expenses

Sun, 20 Nov 2016

By Jonathan Underhill Nov. 21 (BusinessDesk) - Kiwi Property Group, the country's biggest listed property investor, posted a 27 percent gain in first-half profit and affirmed its guidance for an uplift in its full-year dividend. Profit was $45.6 million in the six months ended Sept. 30 from $36 million a year earlier, the Auckland-based company said in a statement. Total income including revenue from property rose 6.7 percent to $114.8 million even after the year-earlier period was bolstered by $5.9 million of litigation settlement income...

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