Kiwi Property Reports a Solid Operating Performance

  • May 25, 2020 NZST
  • Team Kalkine
Kiwi Property Reports a Solid Operating Performance

For the year ended 31 March 2020, Kiwi Property Group Limited (NZX: KPG) reported net rental income of NZ$186.8 million, up by 3.4% contributing to an operating profit before tax of NZ$129.7 million, up 4.2% from the year before.

  • Funds from operations rose by 6.3% to NZ$113.6 million led by income growth across its diversified property portfolio;
  • At year-end, the portfolio was 99.5% occupied, with a healthy weighted average lease expiry of 4.9 years;
  • The company has decided not to pay any dividend this year.

 


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