Brief: Investore Property Sees FY20 Earnings Materially In Line With Previous Guidance

Investore Property

27/03/2020 06:14

March 27 (Reuters) - Investore Property Ltd  IPL.NZ :
    * EXPECTS FY20 EARNINGS TO BE MATERIALLY IN LINE WITH
PREVIOUS
GUIDANCE
    * AROUND 90% OF INVESTORE'S PORTFOLIO BY GROSS CONTRACT
RENTAL IS
CATEGORISED AS ESSENTIAL BUSINESSES
    * ALMOST ALL OF INVESTORE'S TENANTS ARE "ESSENTIAL
BUSINESSES",
BASED ON CURRENT ADVICE FROM NEW ZEALAND GOVERNMENT
    * EXPECTS TO COMPLETE ACQUISITION OF 3 LARGE FORMAT RETAIL
ASSETS
FROM STRIDE PROPERTY & ITS UNIT DURING NEXT QUARTER
    * DOES NOT CURRENTLY CONSIDER THAT COVID-19 PANDEMIC WILL
HAVE A
MATERIALLY NEGATIVE IMPACT ON ITS BUSINESS
    * LEASES WHERE TENANT HAS CONTRACTUAL RIGHT TO SUSPEND
RENTAL
PAYMENTS WILL RESULT RENTAL INCOME LOSS OF $0.02 MILLION DURING
SHUTDOWN

Source text for Eikon:  ID:nNZW76YwJC 
Further company coverage:  IPL.NZ 

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