GROWPNT:  2,415   -15 (-0.62%)  19/05/2019 00:00

Growthpoint Properties HY Diluted HEPS OF 81.38 Cents

March 13 (Reuters) - Growthpoint Properties Ltd:

* HY 2 570 NAV (CENTS PER SHARE) AN INCREASE OF 0.5% FROM FY18

* HY DIVIDEND PER SHARE 105.8 (CENTS PER SHARE) GROWTH OF 4.5% FROM FY18

* HY R138.7BN IN GROUP PROPERTY ASSETS (4.3% GROWTH FROM FY18)

* PARTICIPATED IN RESTRUCTURING OF EDCON BY PROVIDING IT WITH EQUITY INJECTION OF R110 MILLION, IN RETURN FOR EQUITY STAKE

* AMONG LANDLORDS APPROACHED IN DECEMBER 2018 TO CONSIDER A RENTAL REDUCTION FOR RETAIL SPACE LEASED TO EDCON'S BRANDS

* WITH REGARDS TO EDCON, ALREADY DECREASED ITS EXPOSURE TO RETAIL GROUP BY APPROXIMATELY 9 000M2 SINCE 31 DECEMBER 2017

* WITH REGARDS TO EDCON, EXPOSURE TO RETAIL GROUP IS EXPECTED TO DECREASE FURTHER BY AT LEAST 18 000M2 OVER NEXT TWO YEARS

* MOST OF FY19'S GROWTH WILL COME FROM OUR INTERNATIONAL INVESTMENTS

* DIVIDEND WITHHOLDING TAX TO BE LOWER THIS YEAR, HAVE TAKEN ADVANTAGE OF EXCHANGE RATE WEAKNESS WITH FAVOURABLE HEDGE RATES

* SOLID DEVELOPMENT PIPELINE IN ROMANIA AND ACCRETIVE ACQUISITION OPPORTUNITIES IN POLAND

* HY TOTAL REVENUE R5.63 BILLION VERSUS R5.49 BILLION

* HY DILUTED HEADLINE EARNINGS PER SHARE OF 81.38 CENTS

* ASSUMING NO FURTHER DETERIORATION IN SOUTH AFRICAN BUSINESS ENVIRONMENT, EXPECT GROWTH IN DIVIDEND FOR 2019 OF ABOUT 4.5% Source text for Eikon: Further company coverage:

2019-03-13 08:14:54

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