FFO swung to $3.2m profit but NTA fell 5.2% as capex drained cash
Operating cash flow turned positive, yet $3.9m of Munroe Lane capex cut cash holdings by $4.0m and left NTA per share at $0.307.
Published 22 May 2026
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Operating cash flow turned positive, yet $3.9m of Munroe Lane capex cut cash holdings by $4.0m and left NTA per share at $0.307.
Published 22 May 2026
Read briefingGraham Street disposal left Asset Plus with NZ$10.3m cash and zero borrowings, but the smaller portfolio means headline profit is not comparable.
Published 22 April 2026
Read briefingOperating cash flow turned negative and the statutory loss widened 7.5% to $5.7m, even as AFFO swung to a $0.5m profit.
Published 22 April 2026
Read briefingReported swing from loss to profit reflects a property revaluation, not cash earnings, ahead of a 35 Graham Street sale that will clear all debt.
Published 22 April 2026
Read briefingAsset-sale-led deleveraging and Munroe Lane rental halved the PBT loss to $5.3m, yet operating cash flow fell 84% and no FY24 dividend was declared.
Published 22 April 2026
Read briefingEastgate and Stoddard Road sales cut borrowings to $35.0m, but the rental base reset to $2.6m with Munroe Lane's lease only now starting.
Published 22 April 2026
Read briefingThe NZ$36.8m disclosed value from the Stoddard Road sale adds cash-context, while operating cash, capex and working capital remain the direct evidence.
Published 22 April 2026
Read briefingHeadline earnings fell on a portfolio-basis change; the read now sits with leverage trajectory and timing of development completion.
Published 22 April 2026
Read briefingRental revenue fell 14.2% as 35 Graham Street emptied for redevelopment, and the 81.8% NPAT drop reflects a large FY21 base item rather than
Published 22 April 2026
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