CDL Investments New Zealand rises on positive forecast

CDL Investments New Zealand

08/08/2023 02:32

** Shares CDL Investments New Zealand  CDI.NZ  rise as much
1.9% to NZ$0.790, highest since July 26
    ** Stock marks third consecutive session of gains  
    ** Residential land properties seller says it expects market
and consumer sentiment to moderate and improve over the
remainder of 2023 and into 2024 
    ** Says co is optimistic on increasing number of sales in
second half of the year 
    ** However, co reported HY operating profit after tax of
NZ$5.02 mln ($3.06 mln), down from last year's profit of
NZ$22.90 mln
    ** Stock has risen 2.7% this year as of last close


($1 = 1.6426 New Zealand dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))