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

Sun, 19 May 2019

(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...

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