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Held by NZ managed funds
Sub-substantial fund positions — invisible in NZX SSH data, visible here. Sourced from each fund's Quarterly Fund Update on the FMA Disclose register.
| Fund | % of fund NAV |
|---|---|
| Mint — Australasian Property | 13.75% |
| Harbour — Real Estate Investment | 6.96% |
How Property for Industry Limited makes money — FY2026
Revenue $144.4m · EBITDA $108.9m (75.4% of revenue) · Net profit $77.7m (53.8% of revenue)
Band widths are proportional to NZD amounts. Dashed outlines mark derived figures; the hatched node is a balancing item (net profit less every line above it).
| FY2026 | Amount | Status | Note |
|---|---|---|---|
| Revenue | $144.4m | Reported | |
| Operating costs (net of other income) | −$35.5m | Derived * | Reported operating expenses $12.4m do not reconcile; not used. |
| EBITDA | $108.9m | Derived * | |
| Depreciation & amortisation | −$475k | Reported | |
| EBIT | $108.4m | Reported | |
| Interest (net finance costs) | −$33.0m | Reported | |
| Income tax | −$15.0m | Reported | |
| Other items (net gain) | +$17.3m | Balancing item * | Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised. |
| Net profit | $77.7m | Reported |
- * ebitda: $108.9m = EBIT + depreciation & amortisation
- * operating costs: $35.5m = Revenue − EBITDA
Figures extracted automatically from the annual report; check against the report. NZD thousands as stored, shown in millions. Source: annual_report_pdf · method: claude_haiku_pdf · extracted 5 September 2026.
Property for Industry Limited board of directors
6 current directors, 100% independent, average tenure 3.8 years.
| Director | Role | Independent | Appointed | Tenure | Committees |
|---|---|---|---|---|---|
| Dean Bracewell | Chair | Yes | 2024 | 2.6 yrs | Remuneration Committee |
| Angela Bull | Independent Director | Yes | 2023 | 3.7 yrs | Audit & Risk Committee, Remuneration Committee |
| Jeremy Simpson | Independent Director | Yes | 2024 | 2.7 yrs | Audit & Risk Committee |
| Carolyn Mary Steele | Independent Director | Yes | 2022 | 4.2 yrs | Audit & Risk Committee (Chair) |
| David Thomson | Independent Director | Yes | 2018 | 8.7 yrs | Remuneration Committee (Chair), Audit & Risk Committee (Chair) |
| Murray Jordan | Independent Director | Yes | 2026 | 0.6 yrs | — |
PFI governance score breakdown
Property for Industry Limited scores 88/100 (Excellent) on the NZXplorer Governance Risk Score for FY2026, based on 73% data coverage. See the GRS methodology.
- Board structure
- 24/25
- Shareholder rights
- 20/20
- Executive remuneration
- 4/10
PFI dividends
The most recent Property for Industry Limited dividend on record is 2.90 cents per share, for FY2026 (final), 50.19% imputed, ex-dividend 28 Aug 2026, paid 9 Sept 2026.
Property for Industry Limited largest shareholders
Top 10 registered holders of PFI as disclosed for FY2026. Registry holdings include custodians and nominees, which may hold on behalf of many underlying investors.
| # | Holder | Holding |
|---|---|---|
| 1 | Custodial Services Limited | 17.05% |
| 2 | BNP Paribas Nominees (NZ) Limited - NZCSD | 10.60% |
| 3 | Accident Compensation Corporation - NZCSD | 8.27% |
| 4 | Forsyth Barr Custodians Limited | 5.02% |
| 5 | FNZ Custodians Limited | 3.17% |
| 6 | Apex Custodian Nominees Limited | 2.69% |
| 7 | New Zealand Depository Nominee Limited | 2.61% |
| 8 | HSBC Nominees (New Zealand) Limited - NZCSD | 2.54% |
| 9 | Citibank Nominees (New Zealand) Limited - NZCSD | 2.17% |
| 10 | Adminis Custodial Nominees Limited | 1.65% |
Recent PFI NZX announcements
The 10 most recent filings by Property for Industry Limited to the NZX.
- Capital Change Notice - FY27 LTI Scheme GrantCapital Change
- Annual Meeting - Voting ResultsAGM
- Annual Meeting Presentation and Leasing UpdateAGM
- Notice of Annual MeetingAGM
- FY26 Sustainability and Climate ReportESG
- SPH Notice - Craigs Investment Partners Limited (CIP)Substantial Holder Notice
- Capital Change Notice - 2024 & 2025 LTI Scheme VestingCapital Change
- Disclosure of Senior Managers Relevant Interests (multiple)Insider/Shareholder Notice
- FY26 Annual ReportAnnual Report
- PFI Announces FY26 Annual ResultsFull Year Results
Property for Industry Limited (PFI) — frequently asked questions
What does Property for Industry Limited do?
Property For Industry is a commercial and industrial property investor focused on high-quality distribution warehouses, logistics facilities, and industrial properties across Auckland and other key New Zealand locations. Property for Industry Limited is listed on the NZX under the ticker PFI, in the Real Estate sector.
What is the Property for Industry Limited (PFI) share price?
Property for Industry Limited (NZX:PFI) shares closed at $2.21 on 12 November 2026, unchanged on the previous close. At that price its market capitalisation was about $1.11 billion, based on 502,478,551 shares on issue.
Who are the directors of Property for Industry Limited?
Property for Industry Limited has 6 current directors: Dean Bracewell (Chair), Angela Bull (Independent Director), Jeremy Simpson (Independent Director), Carolyn Mary Steele (Independent Director), David Thomson (Independent Director) and Murray Jordan (Independent Director). 6 of the 6 are recorded as independent (100%). Average board tenure is 3.8 years.
Who is the chair of Property for Industry Limited?
Dean Bracewell chairs the Property for Industry Limited board, and has been a director since 2024.
Who is the CEO of Property for Industry Limited?
Simon Woodhams is the Chief Executive Officer of Property for Industry Limited.
What was Property for Industry Limited's most recent dividend?
The most recent Property for Industry Limited dividend on record is 2.90 cents per share for FY2026 (final), 50.19% imputed, ex-dividend 28 August 2026, paid 9 September 2026.
What is Property for Industry Limited's dividend yield?
Property for Industry Limited's trailing 12-month dividend yield is 4.30%, as at 12 November 2026. That is 9.50 cents per share of ordinary dividends with an ex-date in the 12 months to 12 November 2026, divided by the 12 November 2026 closing price of $2.21. Special dividends are excluded.
Who are the largest shareholders of Property for Industry Limited?
The largest registered holder of PFI shares in the FY2026 top-20 register was Custodial Services Limited, with 17.05%, followed by BNP Paribas Nominees (NZ) Limited - NZCSD (10.60%) and Accident Compensation Corporation - NZCSD (8.27%). Custodians and nominees on the register hold shares on behalf of other investors.
What is Property for Industry Limited's governance score?
Property for Industry Limited has an NZXplorer Governance Risk Score of 88/100 (Excellent) for FY2026, based on 73% data coverage.
When was the last Property for Industry Limited annual meeting?
The most recent Property for Industry Limited annual meeting on record was held on 20 October 2026.
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