21 Apr 2011

DNZ lifts profit forecast

7:57 am on 21 April 2011

DNZ Property Fund has lifted its forecast for annual distributable profit.

The company now expects to make $20.8 - $21.1 million in the year to the end of March.

That's just under 10% more than its previous forecast of $19.2 million contained in its July 2010 offer document.

DNZ says the increase is mainly due to reduced finance expenses.