Fairvest CEO Darren Wilder says his company will continue to deliver strong returns in the next six months because its tenants serve a resilient group of consumers. The company, which specialises in shopping centres near taxi ranks and in rural areas, grew its dividend 9.57% year on year in the six months to December, results released on Thursday showed. "While we are in an economy which is struggling to grow at 1%, the kind of consumer who shops at our malls is still spending on essentials on a regular basis. We remain a reliable niche property company in this market. Our focus is on providing quality earnings and giving our shareholders good dividends as opposed to chasing asset value growth," said Wilder. Wilder said the company’s annualised net property income increased 10.4% compared with the previous year, a function of low vacancies at 4.1%, selective acquisitions, cost containment and gross rentals that trended upwards across the portfolio. Fairvest declared an interim divid...
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