Shares in Resilient Property Income Fund (RES) gained 2.8% to R60.50 on Friday after it said it expected its distribution per linked unit for the six months ended June to rise 12%.

Resilient is changing its financial year end to June from December to facilitate its application for Real Estate Investment Trust status‚ it said.

Resilient was established and registered as a company on 15 July 2002 and listed on the JSE Limited on 6 December 2002.

It was founded with the main object of carrying on the business of a property holding company directly through the ownership or lease of property or through the holding of listed and unlisted securities.