Growthpoint battles the interest rate blues
Despite a huge rebound at its crown jewel, the V&A Waterfront, the company is heading for an unexpectedly large slump in earnings
21 September 2023 - 05:00
The market clearly didn’t anticipate the extent to which higher interest rates are likely to eat into Growthpoint’s earnings over the next 12 months, judging by last week’s sell-off.
Its shares touched a three-year low of R11 after the company released results for the 12 months to June. That brings the year-to-date share price drop to about 25%...
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