UPDATE: Kiwi Property lifts annual profit 15% as valuations rise

UPDATE: Kiwi Property lifts annual profit 15% as valuations rise
Jenny Ruth
(Updates with further details from par 8) By Jenny Ruth May 20 (BusinessDesk) - Kiwi Property Group says annual net profit rose 15 percent, driven mainly by the rising values of its properties. Kiwi’s net profit for the year ended March rose to $138.1 million from $120.1 million the previous year. Revaluations added $47.7 million to the latest result compared with the previous year’s $26.5 million gain. Funds from operations fell 4 percent to $106.9 million, reflecting the short-term impact of selling two non-core assets and rein...

More Property

Kāinga Ora cuts staff, trims build costs
Policy

Kāinga Ora cuts staff, trims build costs

The agency will sell older homes in wealthier suburbs as part of turnaround plan.

Oliver Lewis 04 Feb 2025
Apartments opposed by Luxon subject to court appeal
Infrastructure

Apartments opposed by Luxon subject to court appeal

The PM wants NZ to stop saying no to development. In 2020, he opposed these apartments.

Oliver Lewis 30 Jan 2025
Liquidated brothel struggled with slow trade
Property

Liquidated brothel struggled with slow trade

One33 Vincent owes ‘north of $100k’ in rent, the liquidator says.

Maria Slade 29 Jan 2025
Kāinga Ora properties sit derelict while reviews continue
Property

Kāinga Ora properties sit derelict while reviews continue

The pared-back state housing agency must decide what to do with hundreds of projects.

Maria Slade 29 Jan 2025