AMP NZ Office Trust full year profit up 14 percent
WELLINGTON, Aug 13 (Reuters) - New Zealand commercial office property investor AMP NZ Office Trust (APT.NZ) reported a 14 percent rise in full year profit on Thursday.
The company said its net distributable profit was NZ$59.2 million ($35.3 million) for the year to June 30, compared with NZ$52 million for the previous year.
However once unrealised losses in property values were included, the result was a NZ$192.8 million loss.
ANZO said its final gross dividend would be 1.364 cents per unit.
Shares in ANZO closed on Wednesday at NZ$0.81. So far this year the stock has fallen around 14.5 percent compared with a 13 percent rise in the benchmark NZX-50 index .NZ50.
ANZO owns 15 central city office buildings with a total value of more than NZ$1.3 billion in New Zealand's two largest cities, Auckland and Wellington.
Last month, ANZO said its portfolio had fallen in value by 15.2 percent over the 12 months to June, and said it expected a challenging economic climate over the coming year.
In June, it completed a NZ$201.3 million capital raising through a share issue to bring its gearing level down to around 19.3 percent. (NZ$1=$1.49)
