The lockdowns drop in rental income -$13m went straight to bottom line. Ouch
Resumption of 12 months of dividend. Thank you KPG team for your extra efforts and dedication this last 12 months
There is a lot to like about this announcement. The various 'irons in the fire' and especially "the company being awarded an ‘A’ rating by the Carbon Disclosure Project, the only business in New Zealand to achieve this milestone."
Excellent news that they are in negotiations with buyers for both the Palmerston North Plaza Mall and also Northlands mall in Christchurch.
Also, combining the above with the facts that Drury is being fast tracked, along with the advanced plans for build-to-rent apartment towers at Sylvia Park & LynnMall - it really sounds like the pivot to further diversifying their holdings is well underway.
The lockdowns drop in rental income -$13m went straight to bottom line. Ouch
Resumption of 12 months of dividend. Thank you KPG team for your extra efforts and dedication this last 12 months
There is a lot to like about this announcement. The various 'irons in the fire' and especially "the company being awarded an ‘A’ rating by the Carbon Disclosure Project, the only business in New Zealand to achieve this milestone."
hopefully lockdowns are all in the rear view mirror now, along with rent relief, especially with vaccinations ramping.
interesting they have projected increased dividend - with it likely to be raised higher following Plaza & Northlands sales.
Solid result and quite a considerable discount to NTA of $1.36 as other shave noted. Might accumulate some more.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
From Announcement:
" could enable earthworks to begin at Drury in the 2022 financial year (FY22), up to three years ahead of schedule. This acceleration of the project timeline will help Kiwi Property unlock housing and create jobs in the Drury area."
This is HUGE potential ... Sylvia Park is roughly 9 hectares so this is 6 times the size though not as intensive.
Tbh housing in Drury is a bit far from the city however the offset is that KPG will be creating a new business district in the area. I just cant imagine what this will do for the fortunes of KPG holders. The management team are very skilled at first class properties
From Announcement:
" could enable earthworks to begin at Drury in the 2022 financial year (FY22), up to three years ahead of schedule. This acceleration of the project timeline will help Kiwi Property unlock housing and create jobs in the Drury area."
This is HUGE potential ... Sylvia Park is roughly 9 hectares so this is 6 times the size though not as intensive.
Tbh housing in Drury is a bit far from the city however the offset is that KPG will be creating a new business district in the area. I just cant imagine what this will do for the fortunes of KPG holders. The management team are very skilled at first class properties
GLTAH
Crickey you're getting the dog salivating.
Last edited by Beagle; 24-05-2021 at 09:38 AM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Originally Posted by Sideshow Bob
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