Change in dividend policy to have an interim distribution. DPS of 113.43c per share.
Distributable income up 14.5% y-y to R765m. DIPS increased 14.4% y-y from 176.1c to 201.4c for 1H25.
LTV ratio decreased from 37.7% at FY24 to 36.3%.
ICR increased from 2.3x to 2.6x y-y.
85% of interest rates hedged.
ZAR cost of debt increased from 9.4% (FY24) to 9.5%, and euro cost of debt decreased from 4.9% (FY24) to 4.7%.
Retail vacancies in SA increased from 1.8% at FY24 to 3.1%, or 2.4% excluding PnP Hyde Park which was re-let to Checkers.
Retail vacancies in CEE rate low and stable 0.2%.
NAV per share decreased from R60.32 to R59.67 from FY24. SA REIT NAV up from R61.50 to R61.69 y-y.
