15 Nov 2012

DNZ Property lifts half-year profit to $12.1m

6:50 pm on 15 November 2012

Profit at the commercial landlord, DNZ Property Fund, has risen by about half after it lifted its occupancy rates and rental income.

The listed landlord owns about 50 premises throughout the country and reported a profit of $12.1 million in the six months to September, compared to $8.2 million in the same period last year.

Revenue increased about 4% to $27 million, after rental reviews and occupancy rates increased to 99%.

DNZ Property Fund says it will pay an interim dividend of 2.25 cents a share.