Property investment company Putprop announced on Monday that headline earnings per share for the six months ended December 2013 were 42.8c compared to 47.8c in the previous comparable period.
The company declared an interim dividend of 18c per share.
Putprop said gross property revenue was up 13.5% to R19.9m and net profit before tax was R22.2m compared to R23m in 2012.
The company said it expected trading conditions during the next reporting period to be challenging.
"The property market both locally and internationally is expected to remain subdued in the second half of the year.
We will continue to focus on growing the portfolio‚ with the possibility of joint ventures with partners with similar strategies being considered" it said.
