NZ developer threatened with suspension despite improved results

Wednesday 6 October 2004

Listed New Zealand developer Australasian Property Holdings Group Limited has been threatened with the suspension of its shares on the New Zealand Stock Exchange after failing to tender its annual report.

By The Landlord

APH, whose major development is an exclusive resort project in Sydney’s Blue Mountains, was warned by the NZX yesterday that if it did not produce its annual report immediately it would be suspended from trading tonight.

Despite the NZX threat, the group’s preliminary results to 30 June 2004 reported an improved performance with losses totaling NZ$1.7 million. In its 2003 annual results, APH Group recorded a loss in excess of NZ$7.4 million.

Read More - Opens in a new window
Commenting is closed

Property News

Major industrial development powers on

It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.

Commercial

Resilience needed in face of change

The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.

Mortgages

Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer