Arvida's underlying net profit steady as it moves to half-yearly dividends

Jenny Ruth
Tue, 25 May 2021

Arvida's annual net profit rose more than three-fold as a result of unrealised property revaluations but the underlying result was flat because of the impact of covid-19 countered by a very strong second half.Net profit for the year ended March rose to $131.1 million from $42.6m the previous year with unrealised gains contributing $121.3m to the latest result.Chief executive Bill McDonald said the underlying second-half result was up 53%, offsetting the additional costs incurred in the first half to cope with the covid pandemic."While...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Law & Regulation
Court keeps prominent family's commercial dispute under wraps
Victoria Young | Wed, 10 Aug 2022

The proceeding alleges breaches of the Companies Act and breach of contract.

Markets
Analysts watch for faltering economy in August earnings
Dan Brunskill | Wed, 10 Aug 2022

Reporting seasons begins in earnest next Monday when Contact Energy reports its full-year results.

Law & Regulation
Commerce Commission will use beefed-up fines to chase non-notified mergers
Greg Hurrell | Wed, 10 Aug 2022

The Commerce Commission says it will not let bygones be bygones when it comes to issuing fines and even winding back uncompetitive company mergers it wasn't told about.

Sponsored
A clearer path to the cloud

Step-by-step cloud transition can bring benefits, experts say.

Sponsored
Energy of the future: Why we need innovation

The Tomorrow’s Energy Today conference is looking at ways to develop a clean, affordable and reliable energy future, says Brendan Winitana, chair of the Sustainable Energy Association New Zealand (SEANZ).