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2015 IN PERSPECTIVE
CHIEF EXECUTIVE OFFICER’S REPORT
In line with our guidance to the market of a 12% to 15% increase in distributable earnings, 2015 earnings came in at the upper end at 543 cents a share.
Operational performance
Underpinning this higher return to shareholders was a solid operating performance from the core shopping centre portfolio. The occupancy rate
improved to 98,0% (June 2014: 97,6%), reflecting continued demand for quality retail space. Trading density growth improved to 7,4% (2014: 7,0%), with a
significantly stronger performance in the second half of 7,9%. Despite the slightly weaker rent ratio of 7,1% (2014: 6,9%), contractual rental remains very
affordable across the portfolio.
Hyprop delivered
excellent investment
returns to shareholders
for the year to 30 June
2015, despite the low GDP
growth in South Africa.
0
2
4
6
8
10
12
3,4%
2,7%
2,4%
2,0%
2nd half
7,9%
1st half
6,9%
3,30%
Trading overview
8,0%
7,1%
7,0% 6,9%
6,8% 6,9%
7,0%
7,1%
7,4%
7,8%
June 2011
June 2012
June 2013
June 2014
June 2015
Q
Trading density growth
Q
Rent ratio (rental as % of turnover)
Q
Vacancies
Pieter Prinsloo,
chief executive officer
8
Hyprop Investments Limited
Integrated Report 2015