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Showing 1-9 of 9 published briefings.

CDL Investments New Zealand (CDI)FY25Released 24 February 2026

PBT fell 42% and final dividend cut 71% as development margin collapsed

Revenue declined 22.3% but segment result in residential land fell far faster, and cash balance dropped $19.4m despite near-zero disclosed leverage.

Published 22 April 2026

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CDL Investments New Zealand (CDI)HY25Released 12 August 2025

CDI's PBT fell 45% as property sales softened, NPAT rise is a tax artefact

Revenue down 17% and operating cash outflow nearly doubled to $12.2m, while the headline NPAT lift is driven by normalised tax rather than trading.

Published 22 April 2026

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CDL Investments New Zealand (CDI)FY24Released 24 February 2025

PBT up 43.1% on housing recovery, but $3.9m deferred tax hit clips NPAT to 14.2%

A 59.4% revenue rebound and strong segment margins are masked at the bottom line by a one-off deferred tax adjustment and still-negative operating...

Published 22 April 2026

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CDL Investments New Zealand (CDI)HY24Released 7 August 2024

Tax step-up hides 31.9% PBT growth as NPAT falls 45.4% at CDI

Operational earnings strengthened on higher property sales, but a 70% effective tax rate and a $9.0m swing to negative operating cash flow...

Published 22 April 2026

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CDL Investments New Zealand (CDI)FY23Released 26 February 2024

NPAT halved to $13.5m as operating cash flow swung to a $10.3m outflow

A 54% revenue decline and a $42m cash swing leave the dividend maintained but uncovered, even as the balance sheet stays debt-free.

Published 21 April 2026

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CDL Investments New Zealand (CDI)HY23Released 8 August 2023

NPAT down 78% to $5.0m as HY22's one-off land sales do not repeat

Run-rate revenue has collapsed to roughly a third of FY22, but a near-debt-free balance sheet and $45.0m cash absorb the cycle.

Published 21 April 2026

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CDL Investments New Zealand (CDI)FY22Released 16 February 2023

Revenue down 27% but NPAT held flat as H2 sales softened sharply

FY22 NPAT of NZ$31.2m matched FY21 on much lower revenue, but the H1/H2 split shows a second-half slowdown into a "very different" FY23.

Published 21 April 2026

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CDL Investments New Zealand (CDI)HY22Released 10 August 2022

CDI's NPAT up 10.3% on a 22.2% revenue drop as cash reserves collapse 83%

A 1,979bp gross margin expansion drove earnings higher on lower sales, but operating cash fell 74.9% and the cash balance dropped from $91.0m to...

Published 21 April 2026

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CDL Investments New Zealand (CDI)FY21Released 18 February 2022

CDI's 3.9% NPAT gain masks a 92.5% collapse in operating cash flow

Earnings edged higher on property settlements but H2 burned cash as the reported cash balance still climbed to NZ$53.0m.

Published 21 April 2026

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