CDI FY2024 Annual Report

Friday 28th March 2025

For the period ended 31 December 2024 CDL Investments New Zealand Limited (“CDI”) recorded a profit after tax of $15.4 million for 2024 (2023: $13.5 million). Our overall net profit before tax reflected significant improvements in our operational performance for the year, however, these gains were impacted by the a one-off non-cash deferred tax adjustment of $3.9 million due to the change of government policy on the depreciation of commercial buildings.

Taking advantage of these more favourable market conditions, CDI saw its profit before tax increase to $26.8 million (2023: $18.7 million). The increase came as a result of higher property sales and other income which totalled $49.1 million (2023: $31.2 million). These results confirm that property markets in New Zealand are showing signs of improvement and there is now a positive momentum shift with lower interest rates, improved access to bank lending and easing inflation.

CDI 2024 Annual Report

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