Stride Property Group reports strong HY26 results, profit up NZ$24.2m

Stride Property Group reported a profit after income tax of NZ$42.6 million for HY26, a significant increase of NZ$24.2 million compared to HY25. Distributable profit after current income tax remained steady at NZ$24.1 million. Stride Investment Management Limited (SIML) saw management fee income rise by NZ$2.3 million to NZ$11.7 million, with total committed assets under management (AUM) growing to NZ$3.3 billion from NZ$3.2 billion at March 31, 2025.

Stride Property Limited (SPL) demonstrated balance sheet strength with a committed loan to value ratio (LVR) of 22.9% and a committed bank LVR of 32.1% as at September 30, 2025. Key strategic initiatives included SPL's conditional development agreement to acquire a 125-year pre-paid ground lease at North Wharf for NZ$17.5 million, and the post-balance date sale of Silverdale Centre for NZ$114 million. The group also declared a combined cash dividend of 2.0 cps for SPL and SIML for the quarter ended September 30, 2025.

The Real Estate Investment Management business reported recurring management fee income of NZ$8.5 million, up NZ$0.6 million from HY25, and activity-based fees increased by NZ$1.7 million to NZ$3.2 million due to elevated development activity. Industre's total portfolio is valued at NZ$826 million, reflecting a net gain in fair value of 2.0% over HY26, with Like-for-Like Rental Growth of +3.8% across 75,000 sqm.