NPAT jumps 85% on revaluation lift while rental revenue grows just 4.9%
Capex nearly doubled to NZ$40.6m, turning pre-lease free cash flow negative even as gearing stayed inside the 30-40% target band.
Published 22 April 2026
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Capex nearly doubled to NZ$40.6m, turning pre-lease free cash flow negative even as gearing stayed inside the 30-40% target band.
Published 22 April 2026
Read briefingHeadline profit recovery is driven by property revaluations, not underlying income, with pre-lease free cash flow down roughly half and the...
Published 22 April 2026
Read briefingRental operations held up and dividend guidance was reaffirmed, but below-the-line charges collapsed PBT by $33.9m and cut equity 11.5%.
Published 22 April 2026
Read briefingArgosy's core rental profitability held up, but the bottom line was hollowed out by smaller fair value gains on the investment property portfolio.
Published 22 April 2026
Read briefingA deleveraged balance sheet and reconfirmed 6.55cps dividend sit alongside weaker cash conversion and a capex step-up that outran operating cash flow.
Published 22 April 2026
Read briefingA NZ$241.7m FY21 NPAT flatters a rental business that grew underlying operating profit at single digits, with leverage still drifting higher.
Published 22 April 2026
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