SA Retail well placed to grow earnings

Posted On Wednesday, 25 June 2003 02:00 Published by eProp Commercial Property News
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LISTED property loan stock company SA Retail Properties announced yesterday it was well positioned to increase earnings and market share next year.

 

Angelique de RauvilleChairman Tony Norton and executive director Mick Hyatt said in the firm's annual report advantage was being taken of suitable acquisition chances.

Co-ownership opportunities in regional shopping centres were also being considered.

In its recently released second-quarter review of the property unit trust and property loan stock sectors, listed property asset management company Provest said earnings prospects were good for the short term.

Provest also said the current decreasing interest rate environment and potential strengthening of consumer markets were likely to benefit this predominantly neighbourhood shopping centre portfolio of properties.

Provest MD Angelique de Rauville said yesterday they had initially forecast a 63c distribution to shareholders for next year, which would represent growth of 1% on the previous year.

However, De Rauville also said there had been speculation SA Retail "had a major property acquisition on the go". If so, growth forecasts would fall short but earnings would be maintained.

Other reports that SA Retail was considering acquiring the East Rand Mall from Sanlam Life were emphatically denied by SA Retail fund manager Peter Sparks.

The group said lower interest rates and the R13,3bn tax relief in the recent budget should boost retail sales in the current year.

Last modified on Friday, 09 May 2014 10:31

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