Property for Industry Limited (PFI) has announced its annual results for the year ended 31 December 2022, which saw a loss after tax for the year of $13.9 million (loss of 2.70 cents per share).
FFO earnings were down 7.8% from the prior year to 10.21 cents per share, whilst AFFO earnings were down by 5.0% to 8.83 cents per share.
PFI has committed to the extensive redevelopment of two sites, with an estimated total incremental cost of $140 million, and all facilities will target Five Green Star ratings.
PFI also undertook an on-market share buyback programme, refinanced its $100 million loan facility from the Bank of New Zealand, and established a US$250 million USPP facility with Pricoa Capital Group.
The Board is guiding to 2023 cash dividends of between 8.10 and 8.30 cents per share, an increase of up to 2.5% on 2022 dividends.
See more
