PFI Announces Record Annual Results

Property for Industry Limited (PFI) has announced record annual results for the year ended 31 December 2021.

PFI generated a record profit after tax of $452.8 million, an increase of $339.3 million from the prior year, and FFO and AFFO earnings up 14.4% and 15.7% respectively.

The Company's fully occupied industrial property portfolio is valued in excess of $2.15 billion, weighted towards the buoyant Auckland industrial market.

A refreshed strategy was progressed with $368 million of capital transactions, including a $224 million pipeline of medium-term development opportunities.

The PFI Board have declared a fourth quarter dividend of 2.4500 cents per share and targeted 2022 dividend range of 8.05 to 8.10 cents per share, a further increase of up to 2.5% on 2021 dividends.