Reuters logo
BRIEF-Hospitality Property Fund 6-month distributable earnings rise 46 pct
February 10, 2017 / 9:32 AM / 7 months ago

BRIEF-Hospitality Property Fund 6-month distributable earnings rise 46 pct

Feb 10 (Reuters) - Hospitality Property Fund Ltd

* Profit before distribution increases to r197.5 million

* Rental income increases to r302.7 million

* Achieved a 46% improvement in distributable earnings to r197 million (2015: r135 million)

* Distributable earnings increased by 8% on a like-for-like basis adjusted for impact of transaction and disposal of certain properties.

* Dividends for four months to 31 december 2016 amounted to 56.09 cents per ordinary share

* Rental income for fund increased by 28% to r303 million

* Outlook for domestic economy in 2017 is slightly improved, but remains volatile

* Fund continues to assess value accretive property acquisitions

* Is preparing to undertake an underwritten rights offer to raise approximately r1.8 billion Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below