Kiwi Property has released their annual results for the year ended 31 March 2023, reporting a 13.9% increase in net rental income to $203.7 million and an 11.3% rise in operating profit before tax to $129.6 million.
Net loss after tax was -$227.7 million (-201.5%), while adjusted funds from operations rose 16.1% to $116.5 million.
The company also announced a final dividend of 5.70 cps (+1.8%).
Chief Executive Officer, Clive Mackenzie, commented on the evolution of the company from a retail and office landlord to a creator of connected communities.
Kiwi Property is also progressing on their capital recycling programme and S&P Global Ratings has assigned them an issuer credit rating of BBB (stable).
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