Urbus lifts H1 profit 12% to $13.6m

Thursday 4 November 2004

Listed property company Urbus Properties Ltd today posted an after-tax profit of $13.6 million for the six months to September 30, up 12% on the previous corresponding period.

By The Landlord

Urbus' profit was achieved on operating revenue of $24.98m, slightly up on last year, the company said in a statement to the NZX.

Urbus said a lease surrender payment made by supermarket operator Foodtown for their lease at Waitakere Plaza was a contributing factor in the profit increase.

Urbus chairman Denis Thom said the company would pay a partly imputed interim dividend of 4.32c, up from 3.62c last year. The dividend record date is November 19.

The company said it had completed the final stages of rationalising its property portfolio by selling four properties for $15.54m against book values of $14.35m.

Read More - Opens in a new window
Commenting is closed

Property News

Return to market form

There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.

House Prices

No stopping Capital price rises

There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.


NZ proptech start-up scores major investor

Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.


LVR limits slow down investors

LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.

Site by PHP Developer