NZ's Investore Property sees best day ever, expects FY20 earnings in line with guidance

Investore Property

27/03/2020 03:44

** Shares of Investore Property  IPL.NZ  rise as much as
11.3% to NZ$1.67, marking its record intraday pct gain ever
    ** The property firm expects FY20 earnings to be materially
in line with previous guidance (https://bit.ly/2UIF3vO)
    ** Says around 90% of portfolio by gross contract rental
categorised as essential business; almost all of co's tennants
are essential businesses
    ** Adds currently does not consider COVID-19 pandemic will
have materially negative impact on business
    ** Stock highest since March 12, set for a fourth straight
gain session
    ** Stock set to gain 7.3% over the week
    ** About 636,000 shares change hands, compared with the
30-day average of more than 274,000 shares
    ** Stock has fallen 17.6% this year, as of last close,
nearly in line with a 17.2% decline in the S&P/NZX 50 index
 .NZ50  

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))