Redefine Properties cushions against volatility

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Johannesburg – Redefine Properties’ net profit for the six months ended February 28 2017 increased 250% compared to the previous period.

The bottomline of the listed Real Estate Investment Trust’s (REIT) more than doubled from R1bn reported in 2016 to over R3.5bn, according to the unaudited interim results released on Monday.

The group reported revenue generation of R3.6bn for the six months, up 8.4% compared to the same period in 2016. Operating profit increased 11.2% from R2bn to over R2.3bn. An interim dividend of 44.82c was declared, which is up 7.5%.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.13
-0.0%
Rand - Pound
19.92
-0.0%
Rand - Euro
17.16
-0.0%
Rand - Aus dollar
11.00
-0.0%
Rand - Yen
0.13
-0.0%
Gold
1,843.76
0.0%
Silver
27.42
0.0%
Palladium
2,894.50
0.0%
Platinum
1,229.50
0.0%
Brent Crude
68.71
+2.5%
Top 40
60,573
+0.6%
All Share
66,598
+0.7%
Resource 10
69,386
-0.1%
Industrial 25
83,277
+0.9%
Financial 15
12,685
+1.5%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1452 votes
No, I did not.
52% - 3625 votes
My landlord refused
27% - 1924 votes
Vote