Sharechat Logo

Retail boost for Kiwi Income Property

Friday 21st May 2004

Text too small?
Kiwi Income Property Trust reported a 9.7% increase in net income after tax to $49.1 million for the year to 31 March 2004, with higher income from leasing activity in its retail centres and lower interest costs.

Total assets grew $187 million to $1.099 billion, up from $912 million the previous year, while investors' funds stood at $746 million, a rise of $80 million compared with $666 million as at 31 March 2003.

Revaluations of the portfolio were up $50.6 million, with the Vero Centre in Auckland worth $12 million. The recently expanded Northlands Shopping Centre in Christchurch enjoyed the biggest jump in value of $17 million to $203 million after KIP spent $91 million on the revamp.

The trust's market capitalisation, calculated by multiplying the unit price by the number of units on issue, increased a further $59 million to $723 million.

  General Finance Advertising    

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.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report