DNZ Property Fund has posted a 66 per cent gain in annual profit as it benefited from its property divestment plan, selling five properties and boosting the value of its remaining assets.

Net profit rose to $68.8 million in the 12 months ended March 31, from $41.6 million, a year earlier, the Auckland-based company said.  Net rental income was little changed at $57m while corporate expenses fell 32 per cent to $6.1m and finance expenses declined 1.9 per cent to $13m. Chief…