Investors in New Zealand's largest listed property trust will be getting 7.5 cents per unit full year cash distribution, based on distributable profit of $61.1m. The amount is marginally better compared to the last year. Even though it recorded a 12.4 million after tax loss it will still give payouts to unit holders due to asset sales and capital raising efforts to lower its debt ratio.

Kiwi Income Property Trust's properties were devalued by $74.4m in the financial year ended March 31. Its properties in Sylvia Park in Auckland and The Plaza in Palmerston North continued to remain solid despite the year being average and not very good, as per reports.

Its property in Sylvia Park continued to be the most valuable and recorded a net rental growth of 2% apart from increase in rental levels of 9%. The book value of its portfolio reduced by 3.9% to remain at $1.85 billion.

Chris Gudgeon, Chief Executive stressed that even though the business environment remained competitive, its long term growth prospects remain strong. The trust maintained net rental income performance and overall occupancy levels remained high at 97%.

Analysts also admit that the performance of the trust is above average and it will continue to do well in the coming times. They maintain that the turnaround in economy will also lead to better performance in the coming quarters.