Companies Reporter
Dipula Properties has reported a solid first half, supported by growth through portfolio enhancing acquisitions, redevelopments and improved occupancy levels.
The group, which has a portfolio of retail, office, industrial and residential property assets throughout South Africa, most of which are in Gauteng, reported a 7% increase in contractual rental income to R603m for the six months ended February.
Revenue was up 7% at R811m and HEPS rose to 29.09c from 27.51c a year ago.
Distributable earnings were 20% higher at R310m, driven by acquisitions, organic growth within the existing portfolio, cost efficiencies and lower interest rates, it said on Wednesday.
