Growthpoint Properties has achieved impressive returns from its assets, locally and abroad, beating market expectations in its 2017 financial year. The real estate investment trust’s decision to invest in Australia, close to a decade ago, had paid off with this subsidiary reporting its strongest year on record. Its recent investment in Romania also gave its results a kicker. Growthpoint increased its dividend 6.5%, to 195.8c, for the year to June, it reported on Wednesday. It had predicted dividend growth of 5%-6% for the 2017 financial year. The company grew its international exposure to 30% of its asset value of R122.3bn, assembling a portfolio of assets for its new healthcare fund and receiving income from its new trading and development business for the first time. CEO Norbert Sasse said he attributed the positive results to a good performance from the group’s investments as a whole, along with new income streams introduced in 2017. “Growthpoint delivered distribution growth ahe...
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