SA like-for-like NOI growth 5.4%.
SA rental reversions +2.9% and vacancies 1.9%.
Spain NOI growth 11%.
Spain rental reversions 9.7% and vacancies 1.1%.
Distributable income up 6.7% y-y to 154.2.
DPS increased by 10.5% to 124.2.
LTV ratio decreased to 40.7% from 41.6%. This is because VKE did not pursue an acquisition with the capital raised.
Retail vacancies in SA worsened from 2.6% to 2.7%.
Retail vacancies in Spain improved going from 1.3% to 1.1%.
NAV per share increased from R19.7 to R20.8 y-y.
What is notable is there are 12.7% more shares in issue and operating cash flow per share (less finance costs) decreased 13.8%.
