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Mon 16 Jun 2025
Close: 1 436c 
Day's move: 0c (0.00%)
Volume: 0
Trades: 0
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Gross revenue for the interim period rose to R1.5 billion (2023: R1.4 billion) whilst operating profit shot up to R820.9 million (2023: R403.5 million). Profit for the period attributable to owners of the holding company soared to R701.1 million (2023: R261.8 million). In addition, headline earnings per share were reported at 53.7 cps (2023: headline loss per share of 3.3 cps).
Dividend declaration
The board declared an interim gross cash dividend of 44.00000 cents per share, for the six months ended 31 December 2024, out of the company's distributable income. This equates to a payout ratio of 80.0%.
Company prospects and guidance
The board approved the declaration of an interim dividend of 44.0 cents per share to be paid to shareholders, which equates to a payout ratio of 80.0%.
The group’s full-year DIPS guidance has been revised upward to between 24.0% and 27.0% growth. .
The full-year growth in DIPS is expected to be driven by several key factors. The full-year benefit of implementing the Waterfall City transaction with the GEPF and the Mall of Africa acquisition will contribute significantly, alongside net operating income growth from rising market rentals, cost management, as well as the filling of vacant spaces and newly completed developments. Additionally, the impact of installed PV systems and planned installations will support the increase in electricity recoveries and improve operational efficiencies.
This guidance is based on the following key assumptions:
- No material impact on distributable income due to new developments, acquisitions or disposals
- Forecasted rental income being achieved based on contractual terms and anticipated market-related renewals
- No major changes in vacancy rates
- No significant increase in load-shedding and the resultant increase in costs
- No unforeseen circumstances such as major corporate tenant failures or deterioration of the current macroeconomic environment.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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