Anton Loubser, CEO of Afine Investments
Afine Investments, a specialised REIT holding a portfolio of properties mainly in fuel stations in South Africa, increased headline earnings per share by 13,39% to 47,76 in the year to February 28 after navigating a complex operating environment.
The company that owns petrol stations in four of South Africa's nine provinces, worth about R449,8 million in total, increased its final dividend by 34,5% to30 cents. This brought the total payout for the year to 52,50 cents, 22,66% higher than the year before.
Distributable earnings were up 39,9% to R34,64m. The company says on its website the majority of its petrol stations operate in the top 10% of fuel sales in South Africa.
Chairman Michael Watter and CEO Anton Loubser said the past financial year has been marked by a complex operating environment, shaped by persistent inflationary pressures, elevated albeit declining interest rates, evolving consumer behaviour, and a volatile geopolitical landscape.
