South African commercial, light industrial property portfolio has satisfactory year despite struggling local economy MARSHALL Monteagle on Wednesday declared a final dividend of 1.8 US cents, taking its dividend for the year ended September to 3.6 US cents.Revenue grew by 23% to $261m. Had currencies remained constant, sales would have increased by 37%, its results statement said. Headline earnings per share increased 38% to 8.7 US cents.Its South African commercial and light industrial property portfolio had a satisfactory year despite a struggling local economy, additional capital expenditure requirements and above-inflation infrastructure costs.In the US, rental income from its large multi-tenanted industrial property in San Diego increased during the year and the property continued to enjoy a low vacancy rate. The commercial and industrial property market in Southern California remains buoyant and the group aims to acquire another asset in the area.Its metals and minerals divisi...
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