KMD Brands director Philip Bowman purchased 200,000 shares at an average of 43 cents per share. The on-market purchase that went through on Friday tallied $86,632. He now owns 300,000 shares in the company.
Bowman was first elected to the board in 2017 and was re-elected at the annual meeting last year, but some shareholders questioned whether he had the time for the job and how much time he spent in New Zealand, being Australian based.
Bowman told media afterwards he thought the questioning was unfair and noted he wasn't asked specifically how he spent his time.
Bowman holds board positions with several other companies including chair of Sky TV.
Kiwi Property Group has trimmed net losses to $2.1 million from last year's $227.7m for the year to March, on the back of a "resilient" valuation of its mixed-use property portfolio.
The listed property group, whose $3.2 billion portfolio includes its flagship Sylvia Park in Auckland, recorded net rental income of $184.9m for the year, down 9.2% on the prior year after the sale of its Northlands and Westgate retail centres.
That also impacted operating profit before tax which declined 16.5% to $108.2m, with adjusted funds from operations, down 14.3% to $99.8m.
The group said it's rented 12% of its 295-unit Resido apartment complex at Sylvia Park, its almost completed build-to-rent development.
The group will pay a final dividend of 1.425 cents a share for the fourth quarter on June 21, taking the full year dividend to 5.7c. Guidance is for a dividend of 5.40c for the current financial year.
Almost 65% of those participating in the Auckland Chamber’s business confidence survey for May rated sentiment as negative or very negative, with the same number saying things would either stay the same or decline in the next 12 months.
Talking about their own businesses, some 55% of respondents said revenues were down, and just over 17% say revenue was the same. About 25% said revenue was up.
A majority planned to invest in property, equipment and tech in the next 12 months, despite 80% saying costs were rising in the year. Most were concerned about inflationary pressure and rising interest rates, and dropping consumer demand.
Almost 40% said Auckland was not heading in the right direction; 30% said it was. The rest were unsure.
Simon Bridges, CEO of the Auckland Business Chamber, said the slight improvement in economic outlook is positive, “but the notable rise in reported revenue decline and continued concerns about costs show that businesses are still in survival mode.”