Emira final results June 2018
Revenue for the interim period was higher at R1.8 billion (R1.7 billion) whilst operating profit jumped to R1.1 billion (R985.1 million). Profit for the year rose to R848.6 million (R712.2 million). Furthermore, headline earnings per share shot up to 176.09 cents per share (101.10 cents per share).
Dividend distribution declaration
The Board has approved, and notice is hereby given that a final gross dividend of 76.15 cents per share has been declared (74.25 cents), payable to the registered shareholders of Emira on 10 September 2018.
Company prospects
South AfricaÆs persistently challenging economic conditions and political uncertainties continue to impede local growth and has driven the FundÆs rebalancing and diversification strategies. With these strategies firmly underway, Emira will seek out the most attractive opportunities to reinvest the proceeds of its strategic, non-core asset disposals. Further investment in the offshore and residential elements of the portfolio will be prioritised to accelerate the key drivers for growth.
The Fund expects to improve on its current distribution growth in the coming period. Factoring in the current and expected market conditions for the year ahead, vacancy profiles and expected rental reversions, as well as anticipated opportunities, our target is to further improve on the dividend growth achieved for the current year.
