Input costs and interest rates wipe out Exemplar’s improved rental income
The company hiked its provision for expected credit losses as tenants such as the SA Post Office struggled to pay
Higher input costs and the effect of higher interest rates led to a decline in the interim distributable income of rural and township mall investor Exemplar REITail as many of these increases outpaced inflation.
The real estate investment trust (Reit), valued at about R3.4bn on the JSE, reported on Monday in its results for the six months to end-August that net rental and related income grew 9.9% to R364m, but operating profit was down 16.5% to R345.8m...
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