A strong full-year performance has been reported by the New Zealand's largest listed investor in prime commercial office property. There was a .52% increase in distributable profit for the duration of 12 months to 30 June 2010.

A 2.0% increase in gross distributions for the year will be received by ANZO unit-holders, as it is in proportion to the target stated in ANZO's distribution policy. Amish Vallabh, ANZO's acting Chief Executive shared that the result revealed both elevated rental profits in addition to decrease in some expenditures.

As a consequence of the increased rental revenues, there were continuous positive rent review outcomes, new leases as well as lease renewals. Rental revenues were 3.4% higher as compared to the previous year.

The indirect expenses for the year were lower, while the property-related expenses for the year were higher. Due to last year's reduction in bank debt, there was an 18.62% decrease in interest costs. The asset management fees also witnessed a downfall of $1.27 million or 12.99% because of lower portfolio values.

A gross fourth-quarter distribution of 1.766 cents per unit will be received by the ANZO unit-holders. As a consequence, the total gross distribution for the year will be brought to 7.058 cents per unit.