ING Property Trust posts $11M profit

Wednesday 24 November 2004

ING Property Trust today posted an $11.08 million profit for the September half year, up from $1.8 million for the same period last year.

By The Landlord

Trust chairman Michael Smith said the increased profit reflected the "significant progress being made in repositioning the Trust, through growing and improving its asset base".

The trust also declared a gross interim dividend of 2.68 cents per unit including imputation credits of 0.61 cents per unit for the three months to September.

The trust's total operating revenue for the September half year was $18.3m from $3m for the same period last year.

Smith said the trust's ongoing "acquisition and rationalisation programme" had contributed strongly to its performance since the beginning of the financial year.


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.

Commercial

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.

Mortgages

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