The group with a property portfolio of R373m posted interim headline losses a linked unit of 0,41c for the six months to October.
The previous results were for an eight month period after the company changed its year end. The comparative figures are for a eight months, but represent a four month trading period.
Revenue increased from R24,3m to R39,9m and distributions a linked unit came in at 15,7c from 12,2c.
The group said growth in rentals was offset by higher average vacancies as a result of the liquidation of the Retail Apparel Group and other smaller tenants.
Looking ahead the group said it expects an improved property performance in the next six months due to higher average occupancies and escalations, but high interest rates will continue to negatively affect performance.
Business Day
Publisher: Business Day
Source: Inet Bridge
