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

 

Capital Properties Announces $9m 6 Month Profit

Capital Properties New Zealand Limited today announced a net surplus after tax of $9.1 million for the six months ended 30 September 2004. This represents an increase of 25.7% compared to the net surplus after tax of $7.2 million for the same period last year.

Earnings per share rose to 3.82 cents per share compared to 3.59 cents for the previous corresponding period, representing an increase of 6%.

The six months under review have seen several significant achievements by the Company including the start of construction on the new Defence Headquarters in Wellington, the renewal of several government office leases on favourable terms and an agreement to purchase an attractive retail asset in New Plymouth, Centre City Shopping Centre.

In addition a review of treasury operations has been completed and is already delivering significant benefits.

The improved net surplus after tax for the period under review is due mainly to lower interest costs. Also assisting the result is the reversal of previous non cash provisioning of $0.9 million for net interest costs on interest rate swap contracts for which there was no matching debt as at 31 March 2004.

The Company announced a second quarterly gross dividend of 2.25 cents per share made up of 1.90 cents cash and 0.35 cents imputation credits with a record date of 26 November, payable 10 December. This results in a gross dividend for the six months ended 30 September 2004 of 4.50 cents comprising cash of 3.80 cents and imputation credits of 0.70 cents.

The gross dividend for the full year to 31 March 2005 will be 9 cents per share, as previously forecast.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



All District Health Boards: Historic Pay Equity Settlement

An historic agreement has been ratified that addresses a long-standing undervaluation of a workforce that is critical to the smooth running of our hospitals and the delivery of healthcare... More>>


MPI: Dry Autumn In Waikato And South Auckland Leads To Drought Classification Drought conditions affecting the primary sector in the Waikato and South Auckland were today classified as a medium-scale adverse event, enabling a package of support for farmers and growers... More>>



Commerce Commission: Invites Feedback On Its Initial Views Of Wellington Airport’s Pricing Decisions

The Commerce Commission is inviting feedback on its initial views, released today, about Wellington Airport’s pricing decisions for specified airport services, such as aircraft parking or airfield and passenger terminal charges, for the period 1 April 2019 to 31 March 2024... More>>



Barfoot & Thompson: Rents Up By Around 3% In Most Areas

The average weekly rent paid for homes in most areas of Auckland has risen by around 3 percent year-on-year. The figures for end March from more than 16,000 properties... More>>


DoC: Smeagol The ‘Gravel Maggot’ Leaves Its Rare Mark On The Remote West Coast
An extremely rare species of sea slug or ‘gravel maggot’ has been detected for the first time on a remote beach in South Westland... More>>



Immigration: Annual Net Migration Loss Of 7,300

The provisional net loss of 7,300 people in the year ended March 2022 was the lowest net migration for a March year since 2012, Stats NZ said today... More>>