Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Trust's profit continues to exceed forecast

Media release 13 February 2001

Trust's profit continues to exceed forecast

Colonial First State Property Trust announced today a net surplus of $10.94m for the nine months to 31 December 2000, up $0.94m on the Prospectus forecast.

Trust general manager Lloyd Cundy said the profit result reflects the Trust's strong cash flow and the addition of Panasonic House in Wellington to the Trust's portfolio in June 2000.

"Panasonic House is well tenanted and provides opportunity for ongoing rental and capital growth," said Mr Cundy. "It's a good fit with the Trust's philosophy of investing in fringe CBD properties that provide large efficient floor plates."

The Trust's third interim distribution for the year ending 31 March 2001 will be paid on 16 March 2001. Unitholders will receive a gross distribution of 2.67 cents per unit made up of 2.33 cents cash and a 0.34 cent imputation credit. The distribution equates to an annualised gross 10.69 cents per unit, compared to 10.4 cents per unit as listed in the Prospectus forecast. The Trust's NTA increased from 96.13 cents per unit as at 30 September 2000 to 96.40 cents per unit as at 31 December 2000.

ENDS

For further information contact:

Andrew Murrell Investor Relations Manager Colonial First State Property PO Box 5108 Wellington Phone: 04 470 4547 Fax: 04 470 4501 Mobile: 025 770 069 Email: amurrell@colonialfirststate.co.nz http://www.colonialfirststate.co.nz

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>