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

Investors not rushing to sell

There is no rush of investors looking to sell their properties in the post-Covid-19 market, according to the second joint survey from REINZ and economist Tony Alexander.

House Prices

S&P forecast 10% house price fall

Global ratings agency Standards & Poors is the latest to join the chorus of predictions around potential house price falls in New Zealand – and they’re picking a 10% drop.


Augusta Capital takeover bid now unconditional

ASX-listed Centuria Capital has declared that its takeover of New Zealand property funds manager Augusta Capital is now unconditional, as it has secured nearly 66% of Augusta’s shares.


Advisers buoyed by strong property market

The New Zealand property market has emerged strongly out of lockdown, according to mortgage advisers, who say they are busy as ever this winter.

Site by PHP Developer