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Redefine’s interim financial performance is the focus in this edition of the Business Day Spotlight. Host Mudiwa Gavaza is joined by Andrew König, CEO of Redefine Properties. König details the property group’s earnings report. Redefine is a real estate investment trust (Reit) with a diversified portfolio in South Africa and Poland, where it has exposure to the retail and logistics sectors. At the end of February, its assets were valued at R101.2bn.The group reported revenue of R5.59bn for the six months to end-February, up 3.7%, while distributable income per share rose 6.9% to 27.29c. It also increased its dividend by the same margin, reflecting improved earnings stability.König highlights how the business has done in its two main geographies, South Africa and Poland. The business is split at roughly two thirds at home and one third in Europe. Tenants across Redefine Properties’ portfolio are likely to avoid sudden rental spikes, with the company indicating lease increases are expected to stay largely predictable and tied to existing contracts.The property executive also outlines the impact of macroeconomic and geopolitical shocks on the business. Topics of discussion include the current state of the property sector; Redefine’s strategy; trends driving activity; the impact of geopolitical events; and macroeconomic factors. Join the discussion: Producer: Demi BuzoBusiness Day Spotlight is an Arena Podcasts Production.For more episodes, subscribe to Simplecast
