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Liberty Two Degrees warns of profit drop

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However, it says trading conditions have improved in the light of easing lockdown restrictions

Sandton City Shopping Centre, of which Liberty Two Degrees owns a quarter. The landlord’s profit before tax fell 17% to R534.7m, partially due to interest expenses on debt raised in 2018. Picture: SUPPLIED

Distributable earnings per share are expected to fall between 40% and 55%, the group said in a trading update, although trading conditions have improved since the easing of lockdown restrictions. However, there had been a “severe impact” in its second quarter, the group said, and it would not be paying an interim distribution, having paid out 29.31c previously.

 

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