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48 resultsfor "Property"
Companies
PFI · Property / Industrial property · 10 briefings
Property for Industry
PBT up 78.8% on valuation tailwinds, but operating cash barely moved
ARG · Property / Property investment · 6 briefings
Argosy Property
NPAT jumps 85% on revaluation lift while rental revenue grows just 4.9%
APL · Property / Property investment · 8 briefings
Asset Plus
Operating profit surged 34x but NPAT fell 31% as Graham Street gain exits...
CDI · Property / Residential development · 9 briefings
CDL Investments New Zealand
PBT fell 42% and final dividend cut 71% as development margin collapsed
GNZ · Property / Property trust · 5 briefings
GNZ
Highbrook proceeds slashed net debt 89%; PBT up 17% but tax flattered NPAT
GMT · Property / Property trust · 1 briefing
Goodman Property Trust
GMT PBT up 17% as balance sheet deleveraged sharply in HY26
KPG · Property / Property investment · 9 briefings
Kiwi Property Group
Operating profit +7.5% but PBT collapsed 56.7% on fair value and tax distortion
PCT · Property / Property investment · 1 briefing
Precinct Properties
FFO fell 8.4% as investment property margins compressed 3.4pp
ARV · Healthcare / Retirement living · 1 briefing
Arvida Group
PBT swung to -$8.0m loss as fair-value gains evaporated on flat EBITDA
MCK · Consumer / Hotels and tourism · 5 briefings
Millennium & Copthorne Hotels New Zealand
PBT fell 64% as property sales evaporated, masking a hotels return to profit
RAD · Healthcare / Aged care · 1 briefing
Radius Residential Care
Underlying EBITDA up 32% but FY23 swung to a $2.1m NPAT loss on property items
SUM · Healthcare / Retirement living · 2 briefings
Summerset Group Holdings
Underlying profit +13% but IFRS PBT collapsed 32% on fair-value swings
Briefings
PFI · FY23
AFFO up 1.0% but NPAT swung to a NZ$97.8m loss on property revaluations
Rental growth and a 2.5% dividend lift sit against a 93bp jump in debt cost, swelling capex, and pre-lease free cash flow turning negative.
PFI · FY22
Fair value reversal flipped NZ$452.8m profit into NZ$13.9m loss as rents...
Rental income and pre-lease free cash flow held firm, but a NZ$56.7m property revaluation loss swamped the result and nudged leverage higher.
PFI · FY25
FY25 'up 401%' NPAT reflects a transition-period compare, not a step-change
Headline growth is distorted by a 12-month FY25 versus a shorter FP24; annualised cash dividends are up just 3.6% and net debt stepped up to...
PFI · HY21
NPAT surged 1,648% on revaluations while rental revenue rose only 9.8%
The headline profit is dominated by non-cash property gains and a collapsed tax rate, with underlying operating cash generation far smaller than...
PFI · HY24
NPAT swings to $21.2m on smaller fair value losses as net debt climbs to $674m
Headline swing to profit is driven by a softer revaluation hit, while underlying operating profit is flat and capex pushes pre-lease FCF to...
PFI · HY23
NPAT swung to a NZ$30.5m loss as revaluations overwhelmed 1.3% rental growth
Rental income and the interim dividend edged higher, but a sharp PBT reversal, tripled capex, and weaker operating cash flow reshape the read.
PFI · HY26
PBT up 78.8% on valuation tailwinds, but operating cash barely moved
Reported earnings accelerated sharply while operating cash flow rose just 2.7% and net debt climbed $71.0m, widening the gap between accounting...
PFI · HY22
PFI NPAT fell 91% as HY21 revaluation gains didn't repeat, rents up 3.7%
Headline earnings collapse masks a stable rental business, but operating cash flow fell 34% and the effective tax rate jumped to 33.5%.
PFI · HY25
PFI PBT up 20%, but interim dividend trimmed and net debt climbed to NZ$694m
Headline 36% NPAT growth is flattered by a 6% effective tax rate; operating cash flow was flat and the interim dividend was cut 9%.
PFI · FY21
PFI's $452.8m NPAT is 87% non-cash revaluation, rental income up just 11.6%
Fair value gains of $392.5m and a 4.2% effective tax rate did most of the work; operating cash only covered 38% of the lifted dividend.
KPG · HY23
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.
MCK · FY21
PBT up 26.9% but NPAT fell 12.9% as tax rate doubled and OCF dropped 66%
Property-led profit lift and a move to net cash sit against sharply weaker cash conversion and a first-half-weighted earnings shape.
ARG · FY25
Argosy swings to $33.0m NPAT on revaluation reversal as operating cash flow...
Headline profit recovery is driven by property revaluations, not underlying income, with pre-lease free cash flow down roughly half and the...
CDI · FY21
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.
CDI · HY25
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.
PCT · HY26
FFO fell 8.4% as investment property margins compressed 3.4pp
Revenue flat but operating profit down 3.8% and OCF down 15.4%, with HY26 FFO tracking below the pace needed to meet full-year guidance midpoint.
GMT · HY26
GMT PBT up 17% as balance sheet deleveraged sharply in HY26
Rental revenue growth and a ~$779m debt reduction reshape the balance sheet, but minimal tax and collapsed capex inflate the headline numbers.
GNZ · FY25
Goodman Property Trust swings to $109.6m profit as revaluation drag lifts
Rental income up 13.8% and capex nearly halved to $80.1m, but the headline swing is driven by the absence of last year's fair-value hit rather...
KPG · HY22
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%.
ARG · FY26
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.
KPG · HY21
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...
KPG · HY25
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...
KPG · FY22
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.
KPG · HY26
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.
ARG · FY24
Operating profit rose 6.4% but Argosy swung to a $19.8m NPAT loss
Rental operations held up and dividend guidance was reaffirmed, but below-the-line charges collapsed PBT by $33.9m and cut equity 11.5%.
ARG · FY23
Operating profit up 5% but HY23 PBT collapsed 87% on weaker revaluations
Argosy's core rental profitability held up, but the bottom line was hollowed out by smaller fair value gains on the investment property portfolio.
MCK · HY23
PBT fell 64% as property sales evaporated, masking a hotels return to profit
Revenue mix swung hard toward hotels (79% of group), but lost Residential Land Development earnings drove the headline decline and turned free...
KPG · HY24
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.
ARV · HY26
PBT swung to -$8.0m loss as fair-value gains evaporated on flat EBITDA
Revenue grew 5% and operating EBITDA held near flat, but the absence of investment property revaluations erased the prior-year profit and lifted...
KPG · FY24
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.
MCK · HY21
PBT up 57.5% but NPAT down 25.7% as tax line swings from benefit to 38.7%
CDL Investments property sales drove a cash-rich half while hotel operations remained depressed, masking the real operating read at the headline...
KPG · FY23
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.
SKT · FY22
Revenue back to growth at +3.5% but adjusted EBITDA fell and tax tailwind...
Dividend resumes at 7.3cps and cash quadrupled, but the 31.6% NPAT lift reflects a lower tax rate and a $14.0m property gain rather than an...
CDI · HY24
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...
RAD · FY23
Underlying EBITDA up 32% but FY23 swung to a $2.1m NPAT loss on property items
A strong H1 masked a materially weaker second half, with implied H2 NPAT of -$3.8m against H1 NPAT of +$1.7m.
SUM · FY25
Underlying profit +13% but IFRS PBT collapsed 32% on fair-value swings
Summerset's operating momentum is real, but the IFRS result is dominated by investment-property revaluation movements that swung sharply against...