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

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