KEY POINTS:
AMP NZ Office Trust said today its December half year net profit rose 10.3 per cent to $18.87 million.
Earnings per unit rose 7.7 per cent to 3.90 cents.
In December the company upgraded projected investor distributions, for both the current year and the future.
Anzo executive manager Robert Lang said unit-holders had received a total return (income yield plus unit price appreciation) of 43.6 per cent -- higher than any other NZ listed property entity for that period.
Rental revenue rose 12.4 per cent to $51.53m due to rent reviews, higher occupancy and the performance of new additions to the company's portfolio.
Of 22 property rental reviews, rents were hiked on average by 28.1 per cent over the mostly three-year review periods.
ANZO says its portfolio is under-rented (below average) by more than 7.0 per cent.
Mr Lang said that positioned ANZO strongly for further rental and earnings growth.
The projected distribution for the full year to June 30 is now 7.76 cents per unit, representing a 4 per cent increase over the 2006 financial year.
Anzo shares rose 1 cent to a record $1.39. They have traded between 98 cents and $1.39 in the last year.
- NZPA
