Sharechat Logo

Kiwi Income has steady six months

By Phil Boeyen, ShareChat Business News Editor

Monday 13th November 2000

Text too small?
Kiwi Income Property Trust has reported a 3% increase in interim profit to $16.3 million to the end of September.

Net income was slightly ahead of last year in the company's retail and commercial portfolios, with vacancy levels in the commercial portfolios falling to 3.0% down from 5.7% at the end of March. The level of vacancy in the retail portfolio remains stable at 2.0%.

Trust chairman, Robert Narev, says in spite of negative commentary about the level of vacancies in the major commercial office markets, management was maintaining occupancy levels and enjoying good success in renewing leases as they fall due.

"It is a hallmark of a diversified portfolio of quality investment properties that the rental income levels are predictable and not subject to short-term volatility as a result of changing economic conditions".

Investors' Funds have increased by $13.8m to $471.1m following an issue of 15 million units in August. The ratio of debt to assets is 29.4%, up from the 27.4% at the end of March.

The trust has declared an interim dividend of 4.655 cents per share.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Kiwi Income Property Trust
Kiwi Income sells Queen St building to Australian firm
Kiwi Income Property may need to sell assets or raise equity to exit management contract
Kiwi Income manager stays mum on internalisation proposal, sees retail, Auckland office improving
Kiwi Income manager mulls Commonwealth Bank proposal to internalise contract
Kiwi Income Property sees smaller payout in 2014 as annual earnings fall 15 percent
Kiwi Income Property first-half pretax earnings fall 16 percent
Wellington's commercial property market to remain subdued: KIP
Kiwi Income Property Trust
Write-downs hurt Kiwi Income Property Trust but 1H distributable profit rose 9.1%

IRG See IRG research reports