Latest news with #KiwiPropertyGroup
NZ Herald
6 days ago
- Business
- NZ Herald
IkeGPS continues run, up 8.6%; NZX 50 performance still bumpy
Kiwi Property Group led the way, rising 1.04% to $0.97, with Goodman Property not far behind, up 0.98% to $2.07. Singh also highlighted Briscoe Group, which gained 2.65% to $5.81. 'I think that's just a bit of volatility since it's been added into the NZX 50 recently,' Singh said. Gentrack was among the day's largest decliners, down 4.23% to $12 on volumes exceeding $1.7m in value traded. Ahead of close, Singh said there were 'two big trades that equate for about 95% of the volume'. Tech small caps IkeGPS Group shares lifted 8.6% to $1.01 after it announced it had successfully raised about A$18m (NZ$19.6m) through a fully underwritten share placement. The software company said its offer was strongly supported by existing investors and attracted several new long-term institutional investors from the ASX. The firm is trading at 52-week highs and is up above $1 for the first time since 2021. Black Pearl Group shares were up 7.08% to $1.21 after it said it had agreed to buy 100% of United States-based AI sales company B2B Rocket Inc. B2B Rocket uses AI agents to automate outbound sales for small and mid-sized businesses. It generates about US$2.1m (NZ$3.4m) in annual recurring revenue and is growing quickly in the US market. Chief executive Nick Lissette called the acquisition a 'classic 1 + 1 = 3″. In October last year, Black Pearl tapped investors for $10m to fund further expansion in the US. Like IkeGPS, the stock is up over 100% year on year. Elsewhere In a Forsyth Barr investor note, analysts Aaron Ibbotson and Benjamin Crozier raised their Ryman Healthcare target price by 20 cents to $2.85 because of earnings upgrades released late last week. Ibbotson and Crozier said forward-looking sales have improved to about 90% of their two-year average, up from 75% last quarter. 'One swallow does not make a summer, but we view this as an important step in de-risking the investment case.' The exchange's other two retirement operators, Summerset Group and Oceania Healthcare, were up 0.77% to $11.72 and down 1.32% to 75c, respectively. Singh said the industry would be watching the Real Estate Institute of NZ's (REINZ) data release on Tuesday, which would help the market see whether Ryman was a standout or part of a wider trend. He added that the index's largest constituent, Fisher & Paykel Healthcare, was yet to be visibly affected by US President Donald Trump's renewed tariffs on Mexico, where the firm manufactures many of its products. The stock lifted 0.79% to $35.90 on volumes worth nearly $6m. 'FPH did not move much today, despite that, because at the moment, the products that they ship out of Mexico are still exempt under a free-trade agreement,' he said. 'This kind of builds on that expectation that at some point there could be a hit in terms of the Mexican production that FPH has.'
NZ Herald
03-07-2025
- Business
- NZ Herald
NZ sharemarket down while Kiwi Property Group secures key renewal
The NZ sharemarket has fallen today despite a strong rally from large-cap stocks Ryman Healthcare and Kiwi Property Group. The S&P/NZX 50 Index closed down 0.62% or 79.81 points, falling to 12,704.48, with 28,158,161 shares changing hands to the value of $98.36 million. The S&P/NZX 20 index closed at 7447.61,
NZ Herald
01-07-2025
- Business
- NZ Herald
Ikea opening ‘around the Christmas trading period' this year: Kiwi Property chairman
NZX-listed Kiwi Property Group is talking to Auckland Transport about managing the opening of New Zealand's first Ikea store before Christmas and stressing the available links to trains and buses in the area. At Kiwi's annual general meeting yesterday, chairman Simon Shakesheff told of behind-the-scenes discussions over potential congestion in
Yahoo
26-05-2025
- Business
- Yahoo
Kiwi Property Group Ltd (KWIPF) Full Year 2025 Earnings Call Highlights: Strong Leasing Spreads ...
New Leasing Spreads: Up 8.3%. Property Valuations: Increased by 1.1%. Employment and Administration Expenses: Reduced by $7.5 million, a 23% decrease. Customer Visits: Increased by 600,000, a 2.2% rise. Total Rental Growth: Up 4.3% for FY25. Portfolio Occupancy: Declined from 99.3% to 96.9%. Activate Income: Increased by 30%, now approximately $7 million. Mixed-Use Sales: $1.76 billion, a 1.3% decline. Net Rental Income: Increased by 5% across the portfolio. Adjusted Funds from Operations: Down by $7 million, or 7%. Dividend: $0.054 per share, with a payout ratio of 93%. Total Property Assets: Increased to $3.3 billion. Gearing: Up to 38.4%. Weighted Average Cost of Debt: Reduced to 5.3%. Warning! GuruFocus has detected 10 Warning Signs with KWIPF. Release Date: May 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Kiwi Property Group Ltd (KWIPF) achieved strong new leasing spreads, up 8.3%, with property valuations marginally increasing by 1.1%. The company successfully opened its first build-to-rent development, Resido, at Sylvia Park, with 88% of apartments leased, indicating strong demand. Kiwi Property Group Ltd (KWIPF) reduced employment and administration expenses by $7.5 million, or nearly 23%, from the prior year. The company reported a 30% increase in Activate income, which includes revenue from pop-up activations, media space, and digital signage. Foot traffic at mixed-use assets increased by 2.2%, with nearly 600,000 more visits compared to the prior year, demonstrating the attractiveness of their properties. Overall portfolio occupancy declined from 99.3% to 96.9%, primarily due to tenant departures at the Vero Centre and Sylvia Park. Net rental income for the office portfolio decreased by $900,000, reflecting a softer office market. Adjusted funds from operations were down by $7 million, or 7%, due to higher finance costs and increased current tax. Total sales across the portfolio were lower by 1.6%, amidst a slowdown in the wider New Zealand retail sector. The combined valuation of the Drury landholding decreased by $11.7 million, or 6.9%, due to development spend outpacing land value growth. Q: Regarding Resido, there seems to be a change in how rents are reported. Is there a new benchmark being used? A: No, there is no change in benchmarks. Apologies if there was any confusion. - Clive Mackenzie, CEO Q: Can you provide insights on the behavior of wholesale investors in Mackersy Property given the current interest rate environment? A: We are encouraged by the quality of the management team and investment portfolio. We are starting to see initial signs of activity, and with potential interest rate cuts, we expect more activity. - Clive Mackenzie, CEO Q: Where does the FY26 dividend guidance fall within your payout policy range, and does it include assumptions around land sales? A: The payout range remains within 90% to 100%, and no land sales are included in the guidance. - Clive Mackenzie, CEO and Steve Penney, CFO Q: How are employment and admin cost reductions being achieved, and can you provide examples? A: We focus on developing our senior leadership and promoting a results-driven culture. This includes internal promotions and reducing reliance on external hires. - Clive Mackenzie, CEO Q: For the Drury land sales, when can we expect these to convert to sales? A: We expect to progress these sales through this financial year, likely more towards the second half. - Clive Mackenzie, CEO Q: Can you provide an update on the occupancy at Vero following Bell Gully's departure? A: We have about 2,700 square meters of vacancy and are in advanced discussions to fill some of this space. - Clive Mackenzie, CEO Q: How does the pricing of Drury land sales affect valuation, and when do you expect to receive proceeds? A: The pricing is supportive, and we expect proceeds around FY27 or FY28 after necessary infrastructure is in place. - Steve Penney, CFO Q: What is the expected CapEx for FY26, and how does it relate to Drury? A: We won't initiate further spend at Drury until land sales are confirmed. Total CapEx is expected to be around $60 million to $65 million, down significantly from last year. - Steve Penney, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
NZ Herald
26-05-2025
- Business
- NZ Herald
New Zealand's largest mall to gain from Ikea opening: Kiwi Property Group full-year result
Ikea plans to open in this year's final quarter. The almost-finished Ikea has risen beside New Zealand's largest mall, so how much of a boost could one be to the other? Clive Mackenzie, chief executive of Kiwi Property Group, which sold Ikea the land, cited his company's Sylvia Park shopping centre as neighbouring the almost-finished Swedish giant's first
