RESEND: Portfolio gain, rental income growth delivers record annual profit for Kiwi Property

Mon, 16 May 2016

(Removes extraneous reference to stock as part of $192.5 mln purchase price in the third paragraph) By Jonathan Underhill May 16 (BusinessDesk) - Kiwi Property Group, the country's biggest listed property investor by market value, reported a 118 percent jump in full-year profit reflecting an increase in its portfolio value, higher rental returns, and lower costs including interest charges. Net profit rose to $250.8 million in the year ended March 31, from $115 million a year earlier, the Auckland-based company said in a statement. Tota...

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