Shares in Octodec Investments (OCT) jumped 6.8% in early trade on Wednesday following the release of its annual results.

The group earlier reported a 14.8% increase in its distribution to 157.6c per linked unit for the 12 months ended August 2013. The interim distribution was 78.7c per linked unit with a final distribution of 78.9c per unit.

Its net asset value grew 18.7% to R22.33 per unit.

The group invests in the retail‚ industrial and office property sectors and has a growing residential component in its portfolio.

Rental income and net rental income increased by 10.6% and 7.2% respectively compared with the previous year.

Commenting on the results, Jeffrey Wapnick, Managing Director said; "Octodec delivered strong growth in distributions of 14,8% for the year representing an income yield of 8,3% with a total return of 11,7%. A pleasing result considering the continued pressure on consumers and challenging trading conditions faced during the year.

"These results reflect a well-executed strategy with rental income having increased following a number of value enhancing upgrades and a pro-active approach to letting."

The group is considering a number of redevelopment opportunities for some existing properties‚ which will enhance the quality of the property portfolio and result in sustainable distributions in the future