Tower Property Fund - Interim Results

Tower Interim Results – Presentation

Interim Results for the period 30 November 2016

Financial Highlights:

  • Interim distribution of 38.4 cents per share
  • 15% reduction on corresponding period
  • Growth in core earnings to 38.4 cents (8% on corresponding period)
  • Headline earnings of R223 million
  • Distributable earnings of R130 million
  • Rolled 12-month forward core earnings of 84 – 86 cents
  • Portfolio expanded to 49 properties
  • Portfolio value of R5 billion
  • Market capitalisation of R2.6 billion
  • Loan-to-value of 40%
  • Net asset value of R9.41 per share
  • 7 properties currently for sale at >R450 million

Download the full presentation here

Interim Results Presentation