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Highlights
- In 1HFY25, the company recorded a profit before tax of NZD 38.9 million, a significant recovery compared to a loss of NZD 16.8 million in 1HFY24.
- Argosy focuses on vacancy management, lease expiries, green certifications, and non-core asset divestments to maintain growth in 2024/25.
- ARG targets 50% green portfolio classification by 2031 and a 17.5% reduction in carbon emissions.
Argosy Property Limited (NZX:ARG) is a NZX listed property company that is engaged in the investment in properties which include industrial, office, and large-format retail properties, predominantly in Auckland and Wellington.
In the first half of the financial year 2025 (1HFY25), the company recorded profit before income tax attributable to shareholders of NZD 38.9 million, compared to the loss of NZD 16.8 million in 1HFY24. Net property income during the period dropped by almost 0.11% YoY to NZD 58.36 million.
During the reported period, adjusted funds from operations (AFFO) stood at NZD 26.8 million, compared to NZD 29.5 million in 1HFY24.
Outlook
New Zealand’s domestic economy continues to face significant challenges due to rising costs and restrictive interest rates, resulting in low market supply and demand across the market. Tenants are prioritising prime locations and sustainable initiatives, reflecting shifting market dynamics.
Despite these headwinds, Argosy remains well-positioned with a strong capital base to advance its transformation into a green and environmentally sustainable business. For 2024/25, the company’s key priorities include addressing vacancies and key lease expiries, advancing existing green developments, achieving Green Star and NABERSNZ certifications, divesting non-core assets to reinvest proceeds, and strategically positioning the business for future growth.
Sustainability commitment
Argosy aims to have over 50% of its portfolio classified as green by 2031 while targeting a 17.5% reduction in carbon emissions within the same timeframe. The company successfully completed its initial XRB climate disclosures in FY24, with plans for further enhancements in FY25.
Top 10 shareholders of ARG
The top 10 shareholders of ARG hold a 23.63% stake in the company, with Accident Compensation Corporation holding the highest stake of 9.68%, followed by BT Funds Management (New Zealand) Ltd. with 4.23% shareholding.
Share performance of ARG
ARG shares closed at NZD 1.03 per share on 6 January 2025. In the last three months, ARG’s share price has dropped by almost 5.50%.
52-week high of ARG is NZD 1.20 and 52-week low is NZD 0.99.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is January 06, 2025. The reference data in this report has been partly sourced from EODHD/Others.



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