18th Nov 2024 10:24
(Alliance News) - Sirius Real Estate Ltd on Monday said its outlook was positive, citing its "strong" balance sheet as its rent roll grew comfortably.
The London and Johannesburg-listed property investor said net asset value per share rose 1.7% to 106.74 euro cents as at September 30 from 104.96 cents a year ago. On an adjusted basis, NAV was 112.49 cents per share, up 1.2% from 111.12 cents.
Total annualised rent roll rose 15% to EUR214.0 million in the six months that ended September 30 from EUR186.2 million a year ago.
Sirius Real announced an interim dividend of 3.06 euro cents per share, up 2.0% from 3.00 cents a year prior.
Looking ahead, Chief Executive Officer Andrew Coombs said: "Whilst mindful of an evolving political landscape in our two markets, the company's outlook remains positive: our dynamic business model, diversified offering and strong cash position mean we are ideally positioned to continue building scale. There remain a number of levers at our disposal that can be pulled to unlock value and grow rental income within the current portfolio which, combined with an active asset recycling programme and the ability to fuel our pipeline, provides us with confidence in our prospects."
The company said: "Through its strong balance sheet and extensive operating platform, Sirius remains well positioned to take advantage of opportunities to make accretive acquisitions."
Sirius shares were down 1.2% to 87.45 pence each on Monday morning in London, and were 1.6% lower at ZAR19.95 each in Johannesburg.
By Tom Budszus, Alliance News slot editor
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