The company’s revenue rose 26% in the six months to end-September amid rising rentals and new acquisitionsSafari Investments, which owns malls in towns and semi-urban areas, said on Wednesday that healthy rental escalations and new properties helped boost revenue by more than a quarter in the six months to end-September.
Revenue rose 26% to R159m, although headline earnings per share fell 20% to 28.02c. During the period, the company saw new income-generating properties join its portfolio, including the Thornhill Shopping Centre in Polokwane, and Nkomo Village Shopping Centre in Atteridgeville.The company’s SA property portfolio saw a 5.79% escalation in gross rentals.
Safari has left its distribution guidance for the full-year of between 48c and 52c unchanged, which represents a fall of between 24% and 29%.
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