13th Oct 2021 20:45
Grit Real Estate Income Group Ltd - pan-African property investment and management - Says portfolio is continuing to deliver a resilient performance despite the pressures from the pandemic. Expresses confidence its property occupancies will improve during 2021 supported by hospitality sectors assets benefitting from the easing of travel restrictions and further leasing activity in Ghanaian office portfolio and retail sector assets. Expects loan-to-value ratio to rise to 53% for the period to June 30, hurt by valuation pressures over that period, mainly in the retail sector. For the financial year, it collected 93% of the value of its contracted revenue. Notes Mauritian borders re-opened on October 1, with tourist arrivals currently expected to recover strongly and swiftly. Grit has two principal tenant brands in the Mauritius hospitality sector: Lux and Beachcomber hotels.
Current stock price: 38.16p
Year-to-date change: down 21%
By Arvind Bhunjun; [email protected]
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