National Property Trust reports higher third quarter

The National Property Trust has reported earnings of $2.4 million in the third quarter, up slightly from $2.16 million in the previous quarter due to higher occupancy rates in the trust's buildings.

The unaudited distributable earnings totalled $6.85 in the nine months to December 31, which was marginally ahead of forecast.

The result was released by National Property Trust Ltd, the manager of the trust. It signalled that $16.61 million of deferred tax expenses the trust had in the half year will be reversed in the full year result due to changes in accounting rules.

The trust will be making a third quarter distribution of 1.3329 cents per unit, which is 90% of earnings for the three months ended December 31. The distribution will made on March 31.

The trust has a portfolio of retail, commercial and industrial properties located in Auckland, Tauranga, Wellington, New Plymouth, Napier and Christchurch.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

THL provides updated guidance
CEN - Greymouth gas deal
July 4th Morning Report
July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report
July 1st Morning Report
June 27th Morning Report