Operating income rose 47% to R105,6m from R72m. The group ended the year with tangible fixed assets worth R1,1bn, from R870m at the end of the previous year. Its asset register may be bolstered further if its bids for two prime properties in the north of Johannesburg succeed.
The group has put in a R320m bid to buy The Mall of Rosebank and adjoining office block JHI House from listed property company Cenprop.
Another property loan stock company, Acucap, has made a R340m bid, and insurer Momentum has offered R320m cash.
Hyprop MD Pieter Prinsloo said the group was confident its offer would be approved, citing an irrevocable undertaking Hyprop has received from Cenprop unitholders.
He said the period under review saw continued strengthening of the retail portfolio to R551m. Although Hyprop's commercial portfolio reflected the oversaturation of the sector, vacancies were down.
