Tower Property Fund’s distributable earnings fall on higher costs
The company has faced lower rental hikes, higher costs and foreign exchange losses but expects 2020 to be better
30 August 2019 - 09:37
Tower Property Fund, which owns properties in SA and Croatia and has seen its dividend shrink in 2019, is optimistic that the worst is behind it.
The company’s distributable earnings and dividend fell in the year to end-May as it grappled with lower rental hikes, higher costs and foreign exchange losses, results showed on Friday. The company said, however, that it expects to achieve better net property income growth in 2020...
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