Argosy Property posts net loss on back of unrealised property revaluation

Argosy Property chief executive Peter Mence. (Image: Argosy)

Wed, 17 May 2023

Argosy Property saw a lift in net property income, but a 6.4% revaluation loss produced a net loss of $80.8 million in the year to March.The New Zealand stock exchange-listed landlord reported its annual results, recording a $146.6m annual unrealised revaluation loss, reducing the book value of its portfolio by 6.4%.However, Argosy’s net property income rose $7.6m, or 7.3%, to $112.8m compared with the prior period. The rise was bolstered by “solid like for like” rental growth, the contribution from its Maui St property, and d...

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