A Track Record of Strong and Stable Returns
A Track Record of Strong and Stable Returns
Investor Relations
We provide investors with the opportunity to invest in a wide selection of properties in the hard-working industrial sector. While past performance does not guarantee future returns, in the period since PFI’s inception to 31 December 2024, investors have enjoyed an average annual return of around 9.25%.
Our Latest Results
Results for the 12 months ending 30 June 2025:
ANNUAL RESULTS
Profit after tax of $106.0m, up $152.1m on the pcp, incorporating fair value gains on properties of $70.7m, as compared to losses of $90.0m in the pcp
Funds From Operations (FFO) up 5.4% on the pcp to 10.69 cents per share (cps), Adjusted Funds From Operations (AFFO) up 8.1% on the pcp to 9.59 cps
FY25 cash dividends of 8.60 cps, an increase of 3.6% on annualised FP24 cash dividends
Funds From Operations (FFO) up 5.4% on the pcp to 10.69 cents per share (cps), Adjusted Funds From Operations (AFFO) up 8.1% on the pcp to 9.59 cps
FY25 cash dividends of 8.60 cps, an increase of 3.6% on annualised FP24 cash dividends
VALUATION CYCLE TURNING, EMBEDDED RENTAL GROWTH BEING REALISED
Positive momentum continuing across PFI’s $2.17b industrial portfolio, fair value gains on properties of $70.7m or 3.4%, net tangible assets (NTA) up 4.7% to $2.84 per share
$73.2m of contract rent reviewed during FY25 delivering an average annualised uplift of 5.3%, $7.9m of contract rent leased during FY25 at an average of 20.1% above previous contract rents, occupancy increased to 99.9%
$73.2m of contract rent reviewed during FY25 delivering an average annualised uplift of 5.3%, $7.9m of contract rent leased during FY25 at an average of 20.1% above previous contract rents, occupancy increased to 99.9%
GREEN STAR DEVELOPMENT PIPELINE BOLSTERED
Stage 2 of the redevelopment of 78 Springs Road tracking under-budget and ahead of programme, planning progressing for Harris Road redevelopment opportunity, runway to deploy ~$350m on Green Star certified projects over the medium-term
WELL-CAPITALISED FOR STRATEGIC EXECUTION
$700m of facilities refinanced or established during FY25 – including $150m PFI030 bonds issued in March 2025, ~$318m of facility headroom, gearing stable at 32.6%
POSITIVE OUTLOOK
PFI enters FY26 with confidence – reinforced by just 1.2% of contract rent expiring in FY26 and an increasingly supportive operating environment – guiding to cash dividends of at least 8.90 cps, an increase of at least 0.30 cps or 3.5% on FY25 dividends
For more details on the latest results
Why invest with us?
Hard working investment
We put your money to work, aiming to generate steady income for you. Industrial property behaves differently to other types of property, offering the opportunity for reliable returns in all economic conditions.
Scale
The size of our portfolio gives us credibility; allowing us to meet the needs of a large variety of tenants today, while also allowing us to work in partnership with them as their requirements change and grow tomorrow.
Location
Our properties are strategically located close to supply chains, transport links, workforce and customers, meaning they represent significant growth opportunities for us and our tenants.
Diversity
Diversity comes from having multiple properties across a number of industrial sub-sectors. Our diverse portfolio is resilient and well-placed to deal with a wide variety of market conditions.
Expertise
Because we specialise only in industrial property, we know the market, understand industrial tenants’ needs, and can capitalise on trends and opportunities that allow our portfolio to keep delivering for investors.
Sustainability
We’ve got a long-term focus on ensuring that we are doing the right thing by all our stakeholders. Our sustainable approach to developments, refurbishments and building maintenance aligns with changing tenant needs, creating the potential for better long-term value for our investors.
Keeping New Zealand moving
The industrial sector plays a vital role in keeping New Zealand’s economy moving. By investing in the properties where the hard work gets done, you’re supporting New Zealand enterprises to grow and succeed. And that leads to a thriving and prosperous New Zealand economy we all benefit from.
Our Share Price
We provide investors with the opportunity to invest in a wide selection of properties in the hard-working industrial sector. While past performance does not guarantee future returns, in the period since PFI’s inception to 31 December 2024, investors have enjoyed an average annual return of around 9.25%.
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The following dates are indicative only and may change without notice. PFI makes no representation in relation to future dividend amounts and timing.
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Computershare Investor Services
Level 2, 159 Hurstmere Road
Takapuna
Auckland 0622
Level 2, 159 Hurstmere Road
Takapuna
Auckland 0622
Private Bag 92119
Victoria Street West
Auckland 1142
Victoria Street West
Auckland 1142
Key dividend Information
Our current policy is to distribute the majority of our profits, with the aim of delivering a steady and reliable income stream for investors. In the past, dividends have typically been paid quarterly. However, PFI makes no representation in relation to future dividend amounts and timing.