Sector archive
Browse recent results from companies in the same sector.
Showing 1-24 of 64 published briefings.
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 briefingOperating cash flow rose 14.2% but a 22.5% capex lift pushed pre-lease free cash flow to a five-year low.
Published 20 May 2026
Read briefingReported earnings declined and the 5.6cps full-year dividend ran at 182.4% of NPAT, with lower capex rather than profit growth funding deleveraging.
Published 18 May 2026
Read briefingThe NZ$900m acquisition price from the Precinct Investment Partnership acquisition is relevant to debt headroom, while borrowings and gearing remain the direct evidence.
Published 21 April 2026
Read briefingTax-rate normalisation cushioned NPAT to a 27.9% decline, masking a deeper margin compression on subdued residential section demand.
Published 22 April 2026
Read briefingReported PBT up 78.5% includes $17.1m of property fair value gains, while pre-lease free cash flow turned negative as capex outpaced operating cash.
Published 22 April 2026
Read briefingRevenue fell 60.0% and net debt nearly doubled as inventories built, even as the commercial portfolio swung to a positive segment result.
Published 23 April 2026
Read briefingValuation pressure and a 58.6% effective tax rate cut NPAT to $9.8m, while pre-lease free cash flow swung to $18.9m on lower capex.
Published 21 April 2026
Read briefingCash rose to $531.8m and total assets fell $663.1m, signalling a material balance sheet reshape that complicates the like-for-like read.
Published 22 April 2026
Read briefingA 0.6% effective tax rate lifted NPAT 35.8%, but the cleaner 17.1% PBT growth and 5.2% like-for-like rental uplift set the operating read.
Published 21 April 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 briefingStrong reported cash flow came from a $21.6m inventory drawdown, masking rising leverage and a paused dividend.
Published 23 April 2026
Read briefingThe statutory swing from a $22.1m FY24 loss to $11.0m profit reflects easing valuation drag rather than core earnings growth.
Published 22 April 2026
Read briefingReported revenue of NZ$127.5m and NPAT of NZ$106.0m compare to a six-month transition period; the durable read is NTA up 4.8% to NZ$2.84.
Published 22 April 2026
Read briefingRevenue dropped 17.2% in a subdued property market, and the headline NPAT gain reflects a 29.4% tax rate versus 70.2% prior, not improving operations.
Published 22 April 2026
Read briefingUnderlying property income rose 13.8% and operating cash flow lifted 43.9%, but NTA per unit barely moved as the revaluation cycle turned.
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 briefingA lower effective tax rate contributed to the headline earnings recovery while working capital absorbed $17.5m and the full-year dividend fell to 5.4c.
Published 22 April 2026
Read briefingA tax-rate flip lifts headline NPAT to +35.8% while operating cash flow stays flat and net debt rises NZ$20m to fund the development pipeline.
Published 22 April 2026
Read briefingA $3.9m one-off non-cash deferred tax charge lifted the effective tax rate to 42.5%, suppressing reported NPAT despite revenue rising 59.4%.
Published 22 April 2026
Read briefingA 5.3% revenue dip turned $14.2m of EBITDA into a $0.1m loss while capex nearly doubled and the cash balance fell $73.2m.
Published 23 April 2026
Read briefingRecurring property earnings improved but valuation softness pulled NTA lower while gross borrowings rose 3.5% to $1,537.2m.
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 briefingThe 218.3% NPAT rebound is a valuation-driven swing from prior-year losses; operating profit, cash conversion, and the dividend all weakened.
Published 22 April 2026
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