Resilient lifts H1 distribution 18.3% to 159.59c

Posted On Thursday, 06 February 2014 12:08 Published by eProp Commercial Property News
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Resilient increases its distribution by 18.3% to 159.59c per linked unit for the interim period ended December 2013.

Des de Beer

Property company Resilient has increased its distribution by 18.3% to 159.59 cents per linked unit for the interim period ended December 2013.

Turnover rental of R21.2 million was received against a budget of R12.8 million.

Management said this supported its view that rentals in the property portfolio‚ on average‚ are below market.

According to the company‚ distributions are forecast to increase by between 17% and 19% for the 2014 financial year.

The board agreed to increase its capital commitment to the Resilient Africa joint venture for the development of properties in Nigeria to R1 billion.

Resilient has a 50.98% interest in Resilient Africa with Standard Bank and Shoprite Checkers as its joint venture partners.

Last modified on Friday, 18 April 2014 09:11

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