CDL Investments' profit jumps amid market recovery

CDL Investments New Zealand (NZX:CDI) announced a strong financial performance for the year ended December 31, 2024, with profit after tax climbing to NZ$15.4 million, compared to NZ$13.5 million in the previous year. Profit before tax increased to NZ$26.8 million, driven by higher property sales and other income totaling NZ$49.1 million. The company saw a rise in shareholder funds to NZ$319.6 million and total assets to NZ$328.6 million. Residential section sales numbered 92, driven by strong performances from Prestons Park and other key subdivisions. The board has declared a fully imputed dividend of 3.5 cents per share, payable May 16, 2025, to shareholders of record on May 2, 2025. The company anticipates stable economic conditions in the property market and plans to advance key development projects, including fast-track projects in Hamilton and Hawke's Bay, and recently settled the purchase of 6.5 hectares of land in Hamilton in January 2025.