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Investore Property (NZX:IPL) Swings to NZD 9.66M Profit in H1FY25 Reversing Prior Year Loss
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Highlights
Investore Property Limited (NZX:IPL) is a New Zealand-based property investment firm. In the half-year ended 30 September 2024 (H1 FY2025), net rental income of IPL rose by 2.7% YoY to NZD 31.19 million, up from NZD 30.38 million in H1FY24. However, profit before other expenses and income tax slipped by 2.7% YoY to NZD 17.13 million, a decline of NZD 476,000 from the prior year.
During the reported period, a significant turnaround was seen in the profit after income tax attributable to shareholders, which rebounded to NZD 9.66 million, compared to a substantial loss of NZD 66.53 million in the same period last year. This improvement was primarily driven by a smaller net reduction in the fair value of investment properties.
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