Stride Property Group reports NZD 21.7m profit for FY25

Stride Property Group (NZX:SPG) announced a profit after income tax of NZD 21.7 million for the year ended March 31, 2025, a NZD 77.8 million increase compared to FY24. The FY25 dividend is NZD 0.08 per share, representing a 93% payout of combined distributable profit. The portfolio is valued at NZD 1.5 billion, with 95% occupancy and a 6.2% weighted average capitalisation rate. Net rental income and management fee income totaled NZD 89.5 million. Corporate overhead expenses decreased to NZD 15.9 million. The loan-to-value ratio (LVR) increased to 38.7%, reflecting ongoing office upgrades. Combined cash dividend guidance for FY26 is NZD 0.08 per share, in line with FY25. Stride's diversified revenue sources supported resilient financial performance, and the investment market shows signs of stabilising, following recent interest rate cuts. The company will suspend its dividend reinvestment plan (DRP) for the FY25 fourth-quarter dividends of both SPL and SIML.