Headlines
Revised strategy under new executive team
Growth in distributable income from South African portfolio of 6,5%, despite the challenging economic climate
Growth in distributable income from the Eastern European portfolio of 13,5%
Progress in reducing exposure to sub-Saharan Africa (excluding South Africa) – investments in this region impaired by R1,46 billion in the year based on anticipated sales proceeds
Strong liquidity position and R8,5 billion of debt refinanced during the year
Commentary
The refined mission of the group is “to create environments and opportunities for people to connect and have authentic and meaningful experiences, by managing and developing tangible (mixed-use precincts underpinned by dominant retail centres in key economic nodes) and non-tangible assets”.
