Kiwi Property profit falls 24% on interest rate swaps
OCR cuts hurt the bottom line but lowered the average cost of debt.
Kiwi Property Group’s first-half profit dropped 24% on the back of an accounting adjustment although metrics showed signs of improvement.
The NZX-listed company posted a profit of $36.8 million for the six months to September 30, down from $48.3m in the first half of last year.
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