Kiwi’s portfolio performs despite slashing of valuation

Kiwi’s portfolio performs despite slashing of valuation
CEO Clive Mackenzie said Kiwi will take a pragmatic approach to development. (Image: Supplied)
Jenny Ruth
An unrealised decrease of $213.3 million in Kiwi Property’s portfolio sent its first-half results into the red, even though the portfolio’s actual performance was positive.Kiwi posted a $151.1m net loss for the six months ended September, compared with a $143.2m net profit in the same six months a year earlier. In the previous first half, unrealised property gains boosted the bottom line by $93.6m.Net rental income rose 6.3% to $100m while adjusted funds from operations were up 35.8% to $65.2m – the latter was boosted by the r...

More Property

Triple Connection faces liquidation
Property

Triple Connection faces liquidation

The debt collector says the company "don't pay their bills".

Gregor Thompson 13 Dec 2024
Beachlands South development appeals settled
Property

Beachlands South development appeals settled

Appeals challenging the approval of a plan change for the Beachlands South development have been settled, paving the way for the multi-billion dollar project to proceed.“The success of negotiating a sensible outcome means that the development process can now move forward with the...

Staff reporters 11 Dec 2024
Winton 'stands to gain millions': MP
Property

Winton 'stands to gain millions': MP

The proposed fast-tracking of Sunfield is 'cronyism', local MP claims.

Maria Slade 11 Dec 2024
Olliver avoids bankruptcy – for now
Property

Olliver avoids bankruptcy – for now

A bid by BNZ to bankrupt the developer has been adjourned until February.

Maria Slade 10 Dec 2024