LOGIN

Listed property group CBS Property Portfolio (CBS) has reported a 16.2% increase in its distribution per linked unit for the year to end-October 2005 to 64.5 cents from 56.5 cents a year earlier.

CBS owns a wide range of office, commercial and industrial property. It listed on the JSE in November 2005.

Announcing its final results today, CBS said revenue from rentals had risen 43% to 70.3 million rand from 49.3 million rand the previous year, while total revenue reached 77.7 million rand versus 53.2 million rand previously. Net profit rose to 41.9 million rand from 27.3 million rand, and diluted earnings per linked unit improved to 1.42 rand versus 1.01 rand in 2004.

Headline earnings per linked unit were reported at 22 cents, compared to a loss of 3 cents a year earlier.

CBS's total assets grew to 868 million rand for the year, up from 476.8 million rand at the prior year-end.

I-Net Bridge
 
Publisher: I-Net Bridge
Source: I-Net Bridge