Spear - voluntary and operational update
Spear provided a voluntary update for the ten months ending December 2025, with an upward revision of its FY2026 guidance, expecting a growth of full year DIPS of 5% to 6% over FY2025. Distributable income per share increased by 5.71% to 74.88 cents, and total distributable income rose by 47.77% to ZAR302.77 million. Revenue, earnings, and net asset value also improved. The portfolio, valued at R6.8 billion, remains diversified across industrial, retail, and commercial assets, with occupancy at 97.16%. Key acquisitions worth R1.07 billion at an average yield of 9.54% have been completed. The company’s balance sheet remains strong, with a loan-to-value ratio of 25.04%. Management remains optimistic, citing improved market fundamentals, tenant activity, and cost efficiencies. The payout ratio is maintained at 95%.
|
