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Showing 1-12 of 12 published briefings.

Kiwi Property Group (KPG)FY26Released 24 November 2025

KPG HY26 swings to $9.8m profit but comparables in data are mis-matched

Release is an interim (interim dividend declared) showing revenue +6.46% and a swing from loss, yet the supplied prior-year set is FY25 full-year,...

Published 22 April 2026

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Kiwi Property Group (KPG)HY26Released 24 November 2025

Operating profit +7.5% but PBT collapsed 56.7% on fair value and tax distortion

Revenue growth was real, but a near-tripling of the effective tax rate pushed NPAT down 77% — masking a sound underlying leasing performance.

Published 21 April 2026

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Kiwi Property Group (KPG)FY25Released 26 May 2025

PBT up 283% to $94.5m, but H2 NPAT collapsed to $13.8m as cash fell 19%

FY25 headline swung back into profit on a normalised tax line, yet the second half and operating cash flow tell a materially weaker story.

Published 22 April 2026

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Kiwi Property Group (KPG)HY25Released 25 November 2024

NPAT swung to $43.2m profit but operating cash fell 22.6% and DPS was cut

A $79.7m PBT swing on just $8.7m of revenue growth points to non-cash drivers, while cash conversion, leverage and distributions all moved the...

Published 21 April 2026

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Kiwi Property Group (KPG)FY24Released 27 May 2024

PBT swung to +$24.7m but tax expense pushed NPAT back into the red

Revaluation-driven pre-tax recovery disguises a 4.6% revenue decline, falling operating cash, and rising leverage against unchanged dividends.

Published 21 April 2026

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Kiwi Property Group (KPG)HY24Released 27 November 2023

PBT loss narrows 82% but operating profit down 12% and OCF falls 19%

A smaller fair-value drag masks a softer operating core, with capex pushing pre-lease free cash flow to -NZ$40.0m while the dividend is held.

Published 21 April 2026

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Kiwi Property Group (KPG)FY23Released 22 May 2023

Rental engine grew 6.4%, but a $475m PBT swing produced a $227.7m loss

Operating profit kept expanding while non-cash property value movements turned headline earnings sharply negative and halved the final dividend.

Published 21 April 2026

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Kiwi Property Group (KPG)HY23Released 28 November 2022

NPAT swung to a $151.1m loss and the interim dividend was halved

Property revenue grew 6.5% and operating cash held up, but a PBT reversal and an $80.8m capex step-up turned free cash flow negative.

Published 21 April 2026

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Kiwi Property Group (KPG)FY22Released 23 May 2022

NPAT up 14.1% but dividend cut as net debt climbs past $1.12b

Headline earnings growth runs well ahead of operating cash, and the 2.85cps final dividend remains uncovered by pre-lease free cash flow.

Published 21 April 2026

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Kiwi Property Group (KPG)HY22Released 22 November 2021

HY22 NPAT rebound to NZ$143.2m masks a tripling in receivable days

Release-reported continuing revenue +9.0% and NPAT +164.1% lean on property revaluations, while trade debtors jumped 68.9% and cash fell 29.6%.

Published 21 April 2026

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Kiwi Property Group (KPG)FY21Released 24 May 2021

NPAT swung to $196.5m but operating PBT fell 10.3% on a 6.3% revenue decline

The reported earnings recovery is a revaluation story; underlying property cash earnings softened and net debt edged higher.

Published 22 April 2026

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Kiwi Property Group (KPG)HY21Released 24 May 2021

NPAT swings to $196.5m as valuations reverse, but operating profit falls 10.3%

FY21 headline recovery is driven by property revaluation reversals, not underlying earnings, with revenue down ~6% and operating profit before tax...

Published 21 April 2026

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