Friday, 17 August 2018

Announcement

INTERIM: NPT: NPT Limited - FY 2018 Interim Results

29 Nov 2017 08:30NZX
29 NOVEMBER 2017

NPT LIMITED FY18 INTERIM RESULTS

NZX-listed property company NPT Limited today released its Interim Report and
Interim Results Presentation for the six months ended 30 September 2017.

Key Points (prior period to 30 September 2016 figures in brackets).
o Net profit before tax increased by 6.35% to $3.066m ($2.883m).
o Net profit after tax decreased by 4.74% to $2.411m ($2.531m).
o Net profit before extraordinary items (previously trading profit) increased
by 5.07% to $3.562m ($3.390m).
o Distributable profit (*1) before income tax increased by 6.51% to $3.782m
($3.551m).
o Distributable profit after current tax increased by 6.11% to $3.212m
($3.027m).
o Gross rental income increased by 2.62% to $8.647m ($8.426m).
o Net Tangible Asset Backing (NTA) was 71.99 cents per share (73.77 cents per
share).
o Value of the property portfolio has increased by 1.34% to $180.55m (*2)
($178.17m).

Shareholders will receive a cash dividend of 0.90 cents per share for the
quarter ended 30 September 2017 with imputation credits of 0.1544 cents per
share attached.

Notes:
*1 Distributable profit is a non-GAAP financial measure adopted by NPT and
investors in assessing NPT''s profit available for distribution.  It is
defined as net profit before income tax, adjusted for non-recurring and/or
non-cash items and current tax.  Further information, including the
calculation of distributable profit and the adjustments to net profit before
income tax, is set out in note 9 to the interim consolidated financial
statements for the six months ended 30 September 2017.

*2 The figure $180.55m used for the value of the property portfolio includes
the carrying value of the AA Centre which has been reclassified as investment
property held for sale as a consequence of NPT entering into an agreement on
12 October 2017 to sell to SkyCity.  Further information related to this is
set out in note 12 to the interim consolidated financial statements for the
six months ended 30 September 2017.

ENDS

For more information, please contact:

Tony Osborne
Chief Executive Officer
NPT Limited

T 09 375 9081
E tony@npt.co.nz
W www.npt.co.nz
End CA:00311112 For:NPT    Type:INTERIM    Time:2017-11-29 08:30:49
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