Scottish investment manager Aberdeen Standard Investments Ltd has lifted its stake in 2 NZX-listed companies controlled by the Hong Leong Group of Singapore – to 13.24% for its stake in Millennium & Copthorne Hotels NZ Ltd and 8.38% in CDL Investments NZ Ltd.
Listed residential land developer CDL Investments NZ Ltd settled the purchase of over 100ha of new development land in the June half-year and still lifted net profit by 25%.
CDL Investments NZ Ltd lifted after-tax profit by 19% in the year ended 31 December, from $27 million to $32.2 million – the 8th consecutive year of profit growth for the company.
NZX-listed residential subdivider CDL Investments NZ Ltd has increased its investment warchest by $40 million in the last 12 months while depleting its landholdings by $20 million (at cost) over the last 18 months.
A 33.6% jump in residential section sales lifted returns right through CDL Investments NZ Ltd in the June half, and flowed through to the returns for Millennium & Copthorne Hotels NZ Ltd.
NZX-listed residential property developer CDL Investments NZ Ltd launched the sales programme for its Prestons Park development in Christchurch yesterday.