Table of Contents Table of Contents
Previous Page  8 / 160 Next Page
Information
Show Menu
Previous Page 8 / 160 Next Page
Page Background

Hyprop Investments Limited

Integrated annual report 2016

6

PERFORMANCE HIGHLIGHTS

Financial capital

Total dividend for the year up

14,2%

to 619,9 cents per share

NAV per share up

6,1%

to R94,50 (2015: R89,04)

Loan-to-value (LTV) increased to

30,8%

(2015: 22,9%) due to inclusion of

funding for

Delta City malls

and

Ikeja City Mal

l

Total distributable earnings from

South African investment property up

8,7%

Financial performance

Manufactured capital

Opening of

Achimota Mall

,

Ghana in October 2015

Acquisition of

Ikeja City Mall

,

Nigeria in November 2015

Acquisition of

Delta City malls

,

Montenegro (February 2016) and

Serbia (April 2016)

Proceeds of

R365 million

from disposal of non-core assets (

Somerset

Value Mart

and

Glenfield Office Park

) applied

to reduce debt*

New equity raised of

R700 million

*

* Post year-end

Operational activity (South African portfolio)

Occupancy levels

remain high at

98,9%

across the portfolio

(2015: 98,0%)

Property expenses (gross)

well controlled, with cost-to-

income ratio reduced to

33,2%

(2015: 33,6%)

New lettings at

Somerset Mall

,

Willowbridge

,

Lakefield

Office Park and Hyde

Park offices

positively

impacting on total

occupancy

Corporate activity