BLUE-chip mall owner Hyprop Investments has yet again delivered a better-than-expected set of results for the year ending June. Dividend payouts for the 12-month period are up 14.2%, well ahead of the market average of 6%-8%.Hyprop CEO Pieter Prinsloo ascribed the robust growth performance to, among others, the company’s expansion into the rest of Africa and, more recently, southeastern Europe, which has been a welcome rand hedge.Hyprop has also been one of the listed property sector’s best performers year to date in terms of share price growth, with the stock up 32% between January 2 and September 12. That brings the total appreciation over the past three years to about 70%.Hyprop’s R28.7bn portfolio includes 11 South African-based shopping centres including Rosebank Mall, Hyde Park Corner and Clearwater Mall in Jo’burg and Somerset Mall and Canal Walk in the Western Cape. It also has a R4.3bn exposure to three malls in Ghana, one in Zambia and one in Nigeria. Earlier this year, Hy...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.