CORPORATE STRATEGY
Redefine’s game plan chalks R2.5bn profit
CEO Andrew Konig says the company is well positioned to maintain attractive dividend growth over the next few years
Redefine Properties CEO Andrew Konig’s strategy is bearing fruit. The group, which owns nearly R90bn in real estate, earned distributable income of R2.5bn during the six months to February, 8.6% higher than it did in the comparable period in 2017, results released on Monday showed. The company has grown strongly under Konig, who has been CEO since August 2014. During 2014 financial year, Redefine generated R2.4bn in distributable income. Konig said Redefine was well positioned to maintain attractive dividend growth over the next few years. The company grew its dividend 5.5% in the six months to February, as expected. Konig said, however, it would take a while for recent positivity in the economy and consumer confidence to have a meaningful effect for Redefine’s income. "Our strategy is appropriate for the environment in which we operate. A strong feature of our approach has been to recycle capital and during this reporting period we raised R2.6bn … selling noncore assets, which bols...
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