Equites posts Interim Results for the 6 months ended 31 August 2024.

Equites is pleased to share our Interim Results for the 6 months ended 31 August 2024.

Says, Andrea Taverna-Turisan, Chief Executive Officer at Equites Property Fund Limited, “Today, we have 65 income producing properties with both our South African and United Kingdom property portfolios performing well, driven by strong like-for-like net property income growth, record-low vacancies, and improved property valuations.”

The highlights for the six months include:
✔️ DPS of 66.50 cents, in line with full-year guidance of 130 cps – 135cps
✔️ Distribution pay-out ratio of 100% maintained
✔️ NAV per share down 4.8% in the six months to R16.32
✔️ South African portfolio valuations up by 2.2%, on a like-for-like basis
✔️ Portfolio vacancy rate of 0.6%, subsequently let
✔️ Disposals of R0.6 billion completed
✔️ Development spend of R0.9 billion
✔️ Loan-to-value of 41.0%
✔️ R2.2 billion of cash and unutilised facilities
✔️ First “Edge net-zero” carbon certification achieved

“We owe another successful year to the dedication, hard work, and commitment of our team, stakeholders, and partners’. Their unwavering support has made these outstanding achievements possible.” Taverna-Turisan conclude, “Our accomplishments serve as a testament to what can be achieved with determination and collaboration.”