Emira HY distributable earnings up 6.9% to R332mn
CNBC Africa’s Godfrey Mutizwa is joined by Geoff Jennett, CEO, Emira Property Fund for more.
Wed, 13 Nov 2024 15:45:09 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Emira Property Fund reports a 6.9% increase in distributable earnings, attributing the success to strong cost containment measures and favorable market conditions.
- The industrial sector emerges as a star performer with a remarkably low vacancy rate of 0.7%, showcasing Emira's focus on optimizing rental opportunities.
- The company strategically pivots towards international markets, with investments in Poland and the US, aiming to diversify its portfolio and capitalize on growth opportunities beyond South Africa.
Emira Property Fund has announced a significant turnaround in its financial performance, with CEO Geoff Jennett reporting a distributable earnings increase of 6.9% to R332 million. Jennett attributes this success to several key drivers, including a strong focus on cost containment and the benefit of lower diesel costs due to reduced load shedding. The industrial sector particularly stood out as a star performer with a vacancy rate of just 0.7%. Emira's strategic disposals have also paved the way for a pivot towards new investment opportunities, with a significant focus on expanding into the Polish market. The company's increased dividend, net asset value per share, and comfortable loan-to-value ratio point towards a promising path forward, with a greater exposure to thriving economies outside of South Africa. The pivot towards international markets, including Poland and the US, reflects Emira's confidence in diversifying its portfolio for long-term growth and stability.
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