Attacq CEO Morne Wilken says the development company is on track to pay its first dividend, of 73c per share, next year, and will convert to a real estate investment trust (Reit) in the following year. The JSE-listed property developer reported diluted headline earnings per share increased about 92% in the year to end-June compared with the previous period, while vacancies across its retail and office portfolios rose. Profit for the year fell 56.7% to just over R600m, mainly due to the strengthening of the rand, fair value adjustments and a one-off payment of R480m in the previous year, the company said in a statement. Adjusted net asset value per share rose 3.2% to R22.59 in the year to end-June. Net rental income rose to R1.86bn from R1.1bn during the period, with the company Basic earnings per share increased to 23c from 12c, the company said in a statement. The fair market value of the investment in MAS Real Estate increased by 18.9% to R3.5bn, while cash generated by operations...
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