Vukile ‘stable despite volatile political environment’
Vukile Property Income said on Thursday that its net profit available for distribution rose 15% to R526m in the six months to end-September from the year-earlier period. The interim dividend per share was up 7% to 67.56c. The property fund, which owns half of East Rand Mall, said net profit from property operations rose 10.7% to R705.23m from the year-earlier period. Vukile property portfolio consisted of 98 properties with a total market value of R14.8bn at the end of its financial year. "Despite a continually challenging and volatile economic and political environment, the business remains on a very stable and solid operational footing," the company said in a statement. "We still anticipate that Vukile will be able to deliver earnings growth in line with previous guidance of a 7% increase in dividend on the prior year."
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