HOSPITALITY PROPERTY FUND LIMITED - Trading statement
HPB HPA 201608010017A
Trading statement
HOSPITALITY PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/014211/06)
Share code for A shares: HPA
ISIN for A shares: ZAE000203022
Share code for B shares: HPB
ISIN for B shares: ZAE000203030
("Hospitality" or "the Company")
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited,
property entities are required to publish a trading
statement as soon as they are satisfied that a reasonable
degree of certainty exists that the distribution for the
next distribution period, will differ by at least 15% from
that of the previous corresponding period or from a profit
forecast previously issued to the market, in relation to
such period.
The combined A and B share distribution for the 6 months
ended 30 June 2015 amounted to 78.91 cents made up of 74.88
cents per A share and 4.03 cents per B share. The 2015
final distribution (“previous corresponding period”) forms
the basis for the purpose of this trading statement.
The combined A and B share distribution for the 6 months
ended 30 June 2016 is expected to be between 21.8% and
22.9% higher than the previous corresponding period or
between 96.15 and 96.96 cents. The A share distribution for
the 6 months ended 30 June 2016 will be in accordance with
the Company’s distribution policy, at 78.62 cents per A
share and the B share distribution is accordingly expected
to be between 335% and 355% higher than the previous
corresponding period or between 17.53 and 18.34 cents per
share.
Trading conditions remain challenging, however the tourism
sector has seen some increased growth, particularly in the
Cape Town node. This was driven mainly by an increase in
international and local travellers as a result of the
weakening Rand.
The financial information on which this trading statement
is based has not been reviewed or reported on by the
Company’s external auditors.
Johannesburg
1 August 2016
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
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