Resilient, which has been battered this year, may just be in a better shape than people thought back in January. The listed property group, which owns shopping centres such as Irene Village Mall, Secunda Mall, Brits Mall, Jabulani Mall in Soweto, The Grove Mall in Pretoria and i'langa Mall in Nelspruit, and has stakes in retail landlords in Eastern Europe, released disappointing financial results on Friday last week for the year to June. It and its associated companies, Fortress, Nepi Rockcastle and Greenbay Properties, have seen their share prices plummet this year as investors sold shares because of concern they might be overvalued. Nearly R120bn was wiped off the collective market capitalisation of the four listed entities year to date, after share-price drops ranging from 41% to 62%. The combined market cap of the four groups was about R267.2bn on January 9 before the sell-down, and has shrunk to about R150bn today. Before the sell-off, the four listed entities made up as much a...
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