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59 results for "Property"
Companies
PFI · Property / Industrial property · 11 briefings
Property for Industry
PFI free cash flow swings to -$50.2m on a debt-funded capex surge
GMT · Property / Property trust · 2 briefings
Goodman Property Trust
Profit surged on one-off gains while operating profit and cash conversion fell
ARG · Property / Property investment · 6 briefings
Argosy Property
Pre-lease FCF turned to -NZ$2.9m as capex outran operating cash
KPG · Property / Property investment · 11 briefings
Kiwi Property Group
PBT fell 17.0% while FCF swung to NZ$25.5m on a 45% capex cut
GNZ · Property / Property trust · 5 briefings
Goodman Property Trust
Gross borrowings fell 53% as PBT rose 17.1% on issuer transition
NZL · Property / Rural land · 9 briefings
New Zealand Rural Land Company
NZL's NPAT grew 34.3% but operating cash flow fell 43.9%
WIN · Property / Residential development · 6 briefings
Winton Land
Winton revenue rose 21.5% as net debt fell to NZ$5.4m
CDI · Property / Residential development · 10 briefings
CDL Investments New Zealand
PBT margin fell to 37.5% while ROE stayed flat at a weak 1.1%
APL · Property / Property investment · 9 briefings
Asset Plus
FFO swung to $3.2m profit but NTA fell 5.2% as capex drained cash
PCT · Property / Property investment · 7 briefings
Precinct Properties
Precinct Investment Partnership acquisition puts Precinct Properties' debt headroom in focus
Briefings
PFI · FY26
PFI free cash flow swings to -$50.2m on a debt-funded capex surge
PBT fell 21.6% and payout rose to 61.4% of NPAT while pre-lease free cash flow turned to -$50.2m, funded by rising debt.
PFI · HY26
Revenue grew an unprecedented 20.2% but operating cash flow rose 2.7%
Reported 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.
PFI · FY25
FY25 growth inflated by 6-month base and fair value gains
Reported 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.
PFI · HY25
PFI HY25: PBT up 20.4% but interim dividend cut 9.1%
A 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.
PFI · HY24
Pre-lease FCF hit unprecedented -$26.2m as capex tripled to $54.0m
Headline NPAT swung +169.4% on a smaller fair-value loss, but operating profit was flat and rising debt funded the development spend.
PFI · FY23
FCF swung to NZ$30.0m outflow as capex tripled to NZ$77.0m
Operating cash held near prior at NZ$47.0m, but a development capex step-up left the dividend no longer covered by free cash flow.
PFI · HY23
PFI swings to NZ$30.5m loss; equity falls 7.4% on revaluation hit
Rental revenue rose just 1.3% and pre-lease free cash flow halved to NZ$6.4m as capex on the development pipeline doubled.
PFI · FY22
Fair-value reversal drives $13.9m loss; cash earnings hold at $52.1m
Last year's $392.5m property revaluation gains have unwound, yet a 32.5% drop in reported income lacks explanation in the release.
PFI · HY22
NPAT down 91.3% as prior fair-value gains lapse; rental result stable
Rent reviews delivered 4.8% uplifts and new leases ran 15.6% above prior contracts, but operating cash flow fell 34.4% to $26.2m.
PFI · FY21
Fair value gains of $392.5m drove FY21; FFO rose 14.4%
Revaluation lifted NPAT to $452.8m and NTA to 303.4 cents per share, while cash earnings rose modestly and gearing eased to 27.7%.
PFI · HY21
NPAT up n/m on $248.2m revaluation; underlying FFO up just 12.1%
Headline growth reflects fair value gains and a revenue-base shift; FFO, 22.9% NTA growth, and 30% gearing are the real operating read.
ARG · FY24
Property revaluations push NPAT to -$19.8m while operating profit grew 6.4%
Operating profit and pre-lease FCF both improved, but fair-value losses dragged statutory equity down 11.5% to $1,287.8m.
GNZ · HY24
Property revaluations drive $163m loss despite 5.9% operating earnings lift
Underlying rental performance strengthened, but a 15.5% borrowings increase and 11.6% equity decline reset the leverage picture.
GMT · FY26
Profit surged on one-off gains while operating profit and cash conversion fell
Statutory profit growth masks a decline in operating profit and a sharp fall in cash conversion this year.
ARG · FY26
Pre-lease FCF turned to -NZ$2.9m as capex outran operating cash
Operating cash flow rose 14.2% but a 22.5% capex lift pushed pre-lease free cash flow to a five-year low.
KPG · FY26
PBT fell 17.0% while FCF swung to NZ$25.5m on a 45% capex cut
Reported earnings declined and the 5.6cps full-year dividend ran at 182.4% of NPAT, with lower capex rather than profit growth funding deleveraging.
KPG · HY26
NTA per share fell 4.3% to $1.12 even as operating profit rose 11.5%
Valuation 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.
GMT · HY26
Borrowings cut 76% via Highbrook Fund deal as PBT grew 17.1%
A 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.
GNZ · HY26
Gross borrowings fell 53% as PBT rose 17.1% on issuer transition
Cash rose to $531.8m and total assets fell $663.1m, signalling a material balance sheet reshape that complicates the like-for-like read.
GNZ · FY25
GMT swings from $564.9m loss to $109.6m profit on valuation reversal
Underlying property income rose 13.8% and operating cash flow lifted 43.9%, but NTA per unit barely moved as the revaluation cycle turned.
KPG · FY25
NPAT swung to $57.0m but operating cash fell 19%
A 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.
KPG · HY25
Operating profit fell 25.2% as pre-lease FCF dropped to -$27.3m
The 218.3% NPAT rebound is a valuation-driven swing from prior-year losses; operating profit, cash conversion, and the dividend all weakened.
ARG · FY25
HY25 interim NPAT $33.0m as revaluation turns positive; NTA edges to $1.46
Period-shape mismatch against FY24 distorts growth rates; gearing rose to 37.2% with AFFO payout at 105%.
GNZ · HY25
GMT operating earnings up 10.6% as valuation drag reverses to $45.5m profit
Underlying rental growth of 7.3% and new completions drove revenue 34.7% higher, but NTA per unit fell 12.7% and borrowings rose $108.6m, tightening
GNZ · FY24
Rental revenue up 14.2% but revaluations widened the loss to $564.9m
Cash earnings and a 22.9% lift in operating cash flow sit underneath a statutory result dominated by property devaluations and rising gearing.
KPG · FY24
Working capital absorbed NZ$72.0m, driving pre-lease FCF to NZ$-72.7m
Headline NPAT loss narrowed on smaller revaluation hits, but operating profit fell 37.7% and gearing rose with capex at 71.5% of revenue.
KPG · HY24
Loss narrowed 75.8% but pre-lease FCF dropped to -$40.0m
Revenue fell 9.6% on portfolio reshaping while capex climbed to 74.6% of revenue, leaving pre-lease cash flow below its historical range.
KPG · FY23
NPAT swung NZ$451.9m to a loss while rents grew 5.7%
Operating cash held near flat at NZ$113.0m, but doubled capex pushed pre-lease FCF to -NZ$49.4m and halved the final dividend.
KPG · HY23
NPAT swung to NZ$151.1m loss and dividend halved as OCF grew 5.3%
Investment-property revaluation effects drove an unprecedented statutory loss while rental cash earnings grew, but a halved dividend and rising
ARG · FY23
HY23 interim result framed against FY22 full year distorts every comparison
The period-shape mismatch makes the headline declines non-comparable, while FY23 dividend guidance of 6.65 cents per share is reiterated.
KPG · FY22
PBT up 17.2% but operating profit up just 7.3% as valuation gains dominate
Statutory earnings are inflated by non-cash investment property revaluations while debtor days rose materially above the historical range.
ARG · FY22
Argosy HY22 NPAT fell 47.5% as revaluation tailwind normalised
Interim profit halved against an unusually strong prior comparable, but rental cash flow, gearing and NTA all moved in the right direction.
KPG · HY22
KPG: revenue fell 47.8% as the prior period captured a full year
The headline -27.1% NPAT move reflects a non-comparable prior period, while debtor days hit an unprecedented 19.2 and pre-lease FCF strengthened
ARG · FY21
NPAT more than doubled to $241.7m on portfolio revaluations
Rental revenue rose 6.9% and operating cash flow climbed 47.9%, but the profit jump reflects valuation gains rather than rental growth.
KPG · HY21
Debtor days hit 36 days — nearly triple the historical norm of 13.7 days
Trade receivables tripled to NZ$22.2m against a revenue decline, signalling rent-collection stress that the headline PBT recovery does not resolve.
SUM · FY25
PBT fell 32.2% on smaller revaluation gains; underlying profit up 13%
IFRS earnings dropped on lower investment property fair-value uplifts, masking a 26% jump in unit settlements and 23.7% rise in operating cash flow.
CDI · HY25
PBT fell 44.6% as tax normalisation flattered NPAT to +33.3%
Revenue 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.
MCK · HY25
Refurbishment capex of NZ$44.0m drove pre-lease FCF to -NZ$39.6m
Hotels revenue grew 15% but a property cooldown and a near-sixfold capex jump pushed MCK from net cash to NZ$13.9m net debt.
MCK · FY24
PBT down 27.1% as property cooldown overwhelms hotel revenue surge
Hotel revenue nearly doubled but earned less profit than FY23, and a one-off deferred tax charge took NPAT 93.0% lower to NZ$2.8m.
PCT · HY25
NTA fell to $1.25 from $1.35 even as FFO rose 7.4%
Recurring property earnings improved but valuation softness pulled NTA lower while gross borrowings rose 3.5% to $1,537.2m.
APL · HY25
HY25 $2.3m profit driven by $2.3m unrealised property revaluation
Reported swing from loss to profit reflects a property revaluation, not cash earnings, ahead of a 35 Graham Street sale that will clear all debt.
PCT · FY24
Operating cash fell 32.6% even as revenue grew 13.3%
The narrowing statutory loss reflects property valuation stabilisation; FCF pre-lease stayed at -$97.6m and gross borrowings rose 7.1%.
CDI · HY24
Cash dropped 76% to NZ$10.7m as PBT rose 31.4%
Strong property sales lifted PBT 31.4%, but operating cash flow swung to a NZ$6.5m outflow as receivables built and a one-off tax charge cut NPAT
PCT · FY23
Revaluation losses drove a $153m NPAT loss while cash earnings rose 34%
Statutory NPAT swung to -$153.1m on property revaluations even as revenue rose 9.3% and operating cash flow climbed to $118.1m.
MCK · HY23
NZ$22.7m unprecedented working-capital build absorbed nearly all cash flow
Hotels returned to profit and PBT fell 64.2% on weaker property sales, but receivables jumped to NZ$22.5m and pushed OCF down 82.6%.
RAD · FY23
H2 EBITDA collapsed to $2.9m as net debt tripled to $100.1m
Debt-funded property purchases pushed leverage to 7.0x EBITDA while operating cash flow fell 59% and the result swung to a $2.1m loss.
RYM · FY22
Reported NPAT jumped 63.8% but underlying profit grew only 13.6%
Investment property revaluations drove the headline gain while capex at 55.9% of revenue absorbed most of the operating cash flow expansion.
MCK · HY21
PBT up 57.4% on CDL and property sales while hotels yielded $33k
Pre-lease FCF hit an unprecedented $53.9m and net debt swung to net cash, but hotel operations remain near zero and reported NPAT fell 25.8%.