GRT
GRT
Growthpoint Properties Limited - Headline earnings per linked unit for the six
months ended 31 December 2005
Growthpoint Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number 1987/004988/06)
Share code: GRT ISIN: ZAE000037669
("Growthpoint")
On 22 February 2006, Growthpoint Properties Limited ("Growthpoint") published on
SENS its unaudited interim results for the 6 months ended 31 December 2005 which
referred to earnings per share and distributable earnings per linked unit.
As requested by the JSE Limited, the headline earnings per linked unit are as
follows:
Unaudited Unaudited Audited
6 months 6 months 12 months
31 Dec 2005 31 Dec 2004 30 June 2005
Weighted number of 702,938,618 652,767,981 655,916,674
shares in issue
R"000 R"000 R"000
Basic earnings 275 232 482
Fair value adjustment - (408,141) (883 908) (1 157,243)
investment property
Capital gains taxation 118,361 265 172 330,829
Headline loss (289,505) (618 504) (825,932)
attributable to
shareholders
add back: debenture 274,574 231,897 481,792
interest paid
Headline (loss) (14,931) (386,607) (344,140)
attributable to linked
unitholders
cents cents cents
Headline (loss) per (2.1) (59.2) (52.5)
linked unit
The disclosure of headline earnings per linked unit is not meaningful as the
calculation excludes from headline earnings the revaluation of investment
property but includes inter alia the fair value adjustments in respect of fixed
interest rate loans, interest rate derivatives and debentures. The company"s
policy is to reflect debentures at fair value and any increase in the value of
investment property results in a corresponding increase in the debenture
liability.
Johannesburg
28 February 2006
Sponsor:Investec Bank Limited
Date: 28/02/2006 07:51:43 AM Produced by the JSE SENS Department
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