Property loan stock boosted earnings for the half-year to June on the back of an upswing in consumer spending that supported its property portfolio in the retail sector.

Property loan stock Hyprop Investments today released results for the six months to June 2004 showing 82% growth in operating income.

'Steep increases in turnover and operating income were largely due to acquisitions'

Property loan stock company Hyprop Investments was upbeat about its interim results for the six months ended June 30 2003 and declared a 2% rise in interim distribution to 65,10c.

Cape Town - Hyprop Investments and Ellerine Bros, which recently bought the Canal Walk shopping centre outside Cape Town for R1.16 billion, said yesterday they shared commercial interests with the centre's retailers and were committed to cordial landlord-tenant relationships.