Kiwi Income Property Trust reported a 10.4 per cent rise in half-year distributable profit to $33 million, largely as a result of a fall in tax expense of $3.4 million.
Gross rental income, before non-cash rental income adjustments, in the six months to the end of September was $94 million, up from $92.9 million a year earlier.
Property operating expenditure was barely changed at $25.8 million while net operating income was up $1 million to $68.2 million.
A cash distribution of 3.5c per unit is being made, down from 3.75c a year earlier.
Kiwi trust rises
Photo / NZ Herald
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