Redefine Properties grew revenue by 3.5% to R5.39bn and HEPS by 75.5% to 18.43c in the six months to February 2025, while distributable income per share increased 0.7% to 25.52c. The interim dividend rose 0.7% to 20.42c, maintaining a payout ratio of 80% of distributable income. SA REIT NAV per share edged up 0.2% to 782c, while the group reported a net operating margin of 76.9% and a loan-to-value ratio of 41.2%. Redefine maintained FY25 guidance for distributable income per share of 50c – 53c, with a payout ratio of 80% – 90%, assuming current trading conditions persist.
Click here to read the SENS