Kiwi Property's retailers' fortunes boost 2021 earnings

Fri, 12 Mar 2021

Kiwi Property Group has raised its earnings guidance by up to 14% because its retailing tenants are performing better than it expected.The property investor now expects adjusted funds from operations will be between 5.5 cents and 5.6 cents in the 12 months ended March 31, up from its November guidance of 4.9 cents to 5.15 cents.The company said leasing outcomes and turnover rent have exceeded forecast while rental abatements and doubtful debt allowances are less than anticipated."The arrival of covid-19 brought widespread uncertainty to Ne...

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