Rebosis share soars after company posts positive results
Rebosis Property Fund’s share price jumped as much as 11% to R12.20 on Monday after releasing its results for the year to end-August. Rebosis declared a final dividend of 62.66c per share, which, with its interim dividend of 56.79c declared in February, took the total for the year to 119.45c — growth of 8.2% on the prior year. The black-managed real-estate investment trust (Reit) has a defensive portfolio of dominant retail assets, and has a commercial office portfolio mainly let to the government. Rebosis CEO Sisa Ngebulana said the group’s investment property portfolio, which consisted of UK-based New Frontier Properties and local commercial office specialist Ascension Properties, further bolstered earnings. "The solid distribution growth is mainly as a result of continued organic growth in our existing portfolio, as well as the management team’s containment efforts, which saw our cost-to-income ratio reduce from 13.3% to 12.5%," Ngebulana said. "I am very happy with what we have ...
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