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Hyprop Investments Limited
Integrated annual report 2016
20
FINANCIAL DIRECTOR’S REPORT
Hyprop declared a dividend of 322,1 cents per share for the six months ended
30 June 2016, an increase of 14,9% on the corresponding period in 2015. The total
distribution for the year of 619,9 cents per share was an increase of 14,2% on the
prior year.
Distributable earnings for the year benefited from the inclusion of income from recently acquired Ikeja City Mall in Nigeria (November 2015), Delta
City Podgorica in Montenegro (February 2016) and Delta City Belgrade in Serbia (April 2016), as well as the opening of Achimota Retail Centre, in
Accra, Ghana (October 2015). Distributable earnings were further increased by exchange rate gains due to Rand weakness and from the inclusion
of income from the redeveloped Rosebank Mall for the full period.
South African portfolio
Revenue and distributable earnings
12 months ended
30 June 2016
12 months ended
30 June 2015
Business segment
Revenue
R000
Distributable
earnings
R000
Revenue
R000
Distributable
earnings
R000
Canal Walk (80%)
628 169
442 978
579 188
412 308
Clearwater Mall
376 612
260 069
358 011
245 039
Somerset Mall
257 565
177 062
231 100
159 387
Rosebank Mall
283 060
183 350
234 353
149 665
Woodlands Boulevard
246 864
162 911
231 701
152 821
The Glen (75,15%)
230 817
163 036
218 999
153 796
Hyde Park Corner
211 335
137 855
199 074
130 900
CapeGate
178 943
106 051
167 562
96 472
Shopping centres
2 413 365
1 633 312
2 219 988
1 500 388
Atterbury Value Mart
129 153
96 124
120 286
89 544
Willowbridge
(1)
99 574
56 008
90 746
49 793
Somerset Value Mart
(1)
25 524
16 750
23 784
15 308
Value centres
254 251
168 882
234 816
154 645
Total retail
2 667 616
1 802 194
2 454 804
1 655 033
Standalone offices
(2)
77 078
45 957
73 126
45 866
Stoneridge
(3)
(90%)
56 275
29 110
CapeGate Lifestyle
(3)
32 937
22 178
Properties sold
89 212
51 288
Investment property
2 744 694
1 848 151
2 617 142
1 752 187
(1)
Held-for-sale
(2)
Includes Glenwood, Glenfield and Lakefield – held-for-sale
(3)
Sold during the 2015 financial year
Laurence Cohen,
financial director
Hyprop again produced a
solid set of results, producing
income and capital growth
above the sector average.