Highlights

  • CDI reported FY25 profit after tax of NZD 11.1 million, down from NZD 15.4 million in 2024.
  • Property sales and other income totalled NZD 38.1 million, compared with NZD 49.1 million in the prior year.
  • A fully imputed dividend of 1 cent per share has been declared, payable on 15 May 2026.

CDL Investments New Zealand Limited (NZX:CDI) has released its financial results for the year ended 31 December 2025. Profit eased amid subdued residential market conditions, though the company continued to progress its active development projects and maintain industrial and commercial operations. CDI declared a fully imputed dividend for shareholders.

Development Activity Continues

CDI advanced consented and construction-ready projects during FY25:

  • Iona, Havelock North: Stages 1 and 2 progressed
  • Prestons Park, Christchurch: Stages 4 and 6 completed
  • Wairakei Road, Christchurch: Industrial earthworks commenced
  • Fast-track Applications: Lodged for Arataki Road (Havelock North) and 130-hectare Hamilton development
  • Strategic Land Acquisitions: Havelock North (0.36 ha) and Hamilton (1.63 ha)

These activities support the company’s long-term development pipeline despite a subdued residential market.

Diversified Portfolio Provides Stability

Industrial and commercial assets continued to contribute earnings:

  • Industrial warehouses remained fully tenanted
  • Leasing completed at Stonebrook retail centre, Rolleston
  • Two new leases secured at Prestons Park retail centre, Christchurch

Diversification, initiated in 2019, helps reduce exposure to residential market cycles.

Key Financial Metrics

  • Profit After Tax: NZD 11.1 million (2024: NZD 15.4m)
  • Profit Before Tax: NZD 15.4 million (2024: NZD 26.7m)
  • Property Sales & Other Income: NZD 38.1 million (2024: NZD 49.1m)
  • Shareholders’ Funds: NZD 321.2 million (2024: NZD 319.7m)
  • Total Assets: NZD 331.6 million (2024: NZD 328.6m)
  • Net Tangible Asset Value (Book Value): 109.7 cents per share (2024: 109.5cps)
  • Earnings Per Share: 3.78 cents (2024: 5.28cps)
  • Dividend: Fully imputed 1 cent per share, payable 15 May 2026

Residential Market and Outlook

Residential enquiry levels improved toward the end of FY25, particularly in the Christmas period. While contracted sales have yet to scale, management considers the trend encouraging. Evolving planning and land-use settings continue to influence project timelines. CDI maintains flexibility across landholdings and focuses on disciplined investment for the future.

CDL Investments New Zealand reported FY25 profit of NZD 11.1 million, reflecting subdued residential conditions while maintaining progress across its development portfolio. Diversified industrial and commercial assets contributed to earnings resilience. The company declared a fully imputed dividend of 1 cent per share and continues to advance key Fast-track development projects heading into 2026.

Frequently Asked Questions

  1. What was CDI’s profit after tax for FY25?
    Profit after tax was NZD 11.1 million, down from NZD 15.4 million in 2024.
  2. What dividend has CDI declared?
    CDI declared a fully imputed dividend of 1 cent per share, payable 15 May 2026.
  3. How did property sales perform in FY25?
    Property sales and other income totalled NZD 38.1 million, down from NZD 49.1 million in 2024.