Companies Reporter
Equites Property Fund has grown distribution per share by 5.3% as the South African portfolio benefited from high occupancy, positive rental growth and strong tenant demand.
On Thursday, the group reported a distribution per share of 141.01c for the year ended February, up from 133.92c a year ago, supported by like-for-like rental growth, contributions from completed developments and ongoing optimisation of the cost of funding.
For the 2027 financial year, Equites is forecasting distribution per share of 147.7c to 150.5c, implying growth of 5%-7%.
Gross property revenue, including discontinued operations, was 20.1% lower at R3.4bn, but distributable earnings were 9.3% higher at R1.2bn.
