Nepi blames lockdowns for 32% fall in distributable profit
Mall owner says lockdowns averaged 58 days across the European countries it operates in
23 August 2020 - 16:03
The largest mall owner in Central and Eastern Europe, JSE-listed Nepi Rockcastle, has not been able to perform to its high standards during 2020, with the Covid-19 pandemic throwing its tenants across nine countries into a lockdown a few months ago.
A lack of trade for tenants meant the company could collect 72% of its rent due in the first half of 2020 and the company, which owns assets worth close to R130bn, was unable to deliver a dividend for the period...
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