Hyprop only expects distribution growth in 2021 as it battles debt mountain
05 September 2019 - 09:45
Hyprop Investments, the owner of malls including Rosebank, Hyde Park Corner and Canal Walk, trimmed its distribution by 1.5% for the year to end-June, largely as a result of a poor performance in sub-Saharan Africa.
Hyprop, which plans to divest from the rest of Africa within the next 18 months, said distributable earnings from its SA malls rose 6.5% and 13.5% from its Eastern European assets. The group only expects to return to distribution growth in 2021 as it focuses on divestments in order to pay off its R7bn in debt...
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