Brief: Investore Property FY Profit After Income Tax Of NZ$28.6M

Investore Property

02/06/2020 21:47

June 3 (Reuters) - Investore Property Ltd  IPL.NZ :
    * FY PROFIT AFTER INCOME TAX OF NZ$28.6M VERSUS NZ$38.6M
    * FY NET RENTAL INCOME NZ$48.1 MILLION VERSUS NZ$47.4
MILLION
    * ANNUAL CASH DIVIDEND OF 7.60CPS
    * EXPECTS IMPACT OF COVID-19 TO RESULT IN REDUCED GROSS RENT
RECEIVABLE FOR FY21 OF BETWEEN NZ$1M & NZ$2M
    * EXPECTS TO OFFER RENT DEFERRALS TO CERTAIN TENANTS WHICH
WILL BE
STRUCTURED TO BE REPAID BY 31 MARCH 2021
    * REINTRODUCED BUILDING DEPRECIATION DEDUCTION CLAIMS TO
PROVIDE
FINANCIAL BENEFIT OF ABOUT NZ$2.2M FOR FY21
    * DIVIDEND GUIDANCE FOR FY21 AT 7.60CPS

Source text for Eikon:  ID:nNZW9TcH3h 
Further company coverage:  IPL.NZ 

 ((Reuters.Briefs@thomsonreuters.com;))