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Vukile Property Fund LimiteVukile delivers 8.1% full-year distribution growth, exceeds portfolio growth targets, and makes strong strategic gains

Vukile Property Fund today reported 8.1% growth in normalised distributions per share for its full year to 31 March 2015, delivering results just ahead of its initial market guidance of between 7% and 8%. There was positive momentum in the latter part of the year with second half distributions growing by 8.4%. This continues Vukile’s 11-year unbroken track record of growth in distributions and positive performance for its investors. During the year Vukile raised its gross property revenue by 13.6%, grew its distributable income by 11.6% and increased its net asset value per share by 14.6%. JSE-listed Vukile is an internally managed diversified, yet predominantly retail property REIT (Real Estate Investment Trust) that holds property assets valued at R13.3 billion. Retail centres now account for 64% of its portfolio, in line with its stated strategy to become substantially weighted in favour of retail property as it grows. With its 33.9% holding in Fairvest, its total assets are R13.6 billion.

Vukile’s assets are set to further grow by around R1 billion with acquisitions secured and awaiting transfer at year end. These include Nonesi Mall in Queenstown in the Eastern Cape, Moruleng Mall in North West Province, Batho Plaza in Soshanguve in Gauteng, a portfolio of distribution warehouses in Silverton in Gauteng and a further 40% interest in Maake Plaza in Limpopo.

 

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1 July 2015

Vukile 2015 Annual Report

26 May 2015

Audited condensed consolidated results for the year ended 31 March 2015

26 November 2014

Unaudited condensed consolidated interim results for the six months ended 30 September 2014

27 June 2014

Vukile 2014 Annual Report

27 May 2014

Audited condensed consolidated results for the year ended 31 March 2014

 

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31 March 2015

Financial year end