We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Safari Investments, the owner of malls in towns and semi-urban areas, has released its weakest results since listing five years ago as the default on a loan by BEE partner Southern Palace and tenant struggles caused it to slash its dividend by a quarter.

But CEO Dirk Engelbrecht said the company’s underlying portfolio of eight shopping centres would see a turnaround in the next financial year. This “highly disappointing” set of results need not spook the market as Safari was preparing to merge with Cape-based Fairvest, which also invested in shopping centres geared at the lower LSM market and commuters in SA’s secondary towns. ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.