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South Africa's Redefine Properties H1 earnings fall, may pay dividend


By Reuters Staff
2 Min Read
JOHANNESBURG (Reuters) - South Africa’s Redefine Properties reported a 62.7% decline in half-year headline earnings on Monday, due to asset sales and further rental relief to financially distressed tenants and said that it may pay a dividend.
The owner of retail, office and industrial properties said headline earnings per share, the main profit measure in South Africa, fell to 8.45 cents in the six-months that ended Feb 28, from 22.63 cents a year earlier.
During the period, total relief granted to its tenants amounted to 107.3 million rand ($7.58 million), made up of rental discounts of 81.5 million rand and deferred rental payments of 25.8 million rand, Redefine said. ....

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