Hospitality revenue up at R128.9m

Posted On Thursday, 19 February 2009 02:00 Published by eProp Commercial Property News
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Property fund Hospitality says its distributions per linked A-unit for the six months to December were at 54.72c, up from the 52.11c reported for the previous period.

Andrew Rogers Hospitality Property Fund








on Wednesday announced that its distributions per linked A-unit for the six months ended December 2008 were at 54.72 cents, up from the 52.11 cents reported for the previous period.

Distributions per linked B-unit were at 92.04 cents from the 81.15 cents in the previous year.

"The A-linked units distribution up 5% year-on-year is in accordance with the fund's distribution structure and the B-linked unit represents a 13.4% year-on-year increase," Hospitality said.

Revenue was at R128.9 million from the R95.8 million reported the previous year. Operating profit was at R114.2 million from R83.4 million the previous year.

Looking ahead, Hospitality said South Africa's economic outlook had changed considerably during the latter part of the reporting period.

Economic forecasts indicate that inflationary pressures are likely to slow during the second half of the current financial year setting the tone for further easing of monetary policy.

Nevertheless consumer and corporate expenditure are expected to remain under pressure in the short term.

"However, the medium to long term outlook is set to improve with events in 2010 and the funds enhanced total offerings," it said.

Last modified on Friday, 18 April 2014 12:45

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