2nd Jun 2025 08:56
(Alliance News) - Sirius Real Estate Ltd on Monday said it is seeking new growth opportunities after posting a "strong" annual financial performance.
The London and Johannesburg-listed property investor reported pretax profit of EUR201.6 million for the 12 months that ended March 31, up 75% from EUR115.2 million a year earlier.
Profit got a boost from the asset management-led valuation gain of EUR81.0 million, compared to just EUR12.4 million the year before.
Revenue was EUR317.5 million, up 9.9% from EUR288.8 million.
Rent roll was EUR205.6 million, up 6.3% on a like-for-like basis from EUR193.5 million the year before, driven by continued strong organic growth and occupier demand in Germany and the UK, Sirius said.
Funds from operations was up 12% to EUR123.2 million from EUR110.2 million. But FFO per share was 8.44 euro cents, down 5.7% from 8.95 cents, reflecting the dilutionary effect of the November 2023 and July 2024 equity raises.
"This has been another strong year of performance for Sirius during which we have delivered for shareholders our 23rd consecutive increase in dividend over a twelve-year period that has included a number of significantly challenging macro events," Sirius Chief Executive Officer Andrew Coombs said.
Sirius declared a final dividend of 3.09 cents, up 1.3% from 3.05 cents, bringing the total payout to 6.15 cents, up 1.7% from 6.05 cents.
Basis earnings per share rose 39% to 12.20 cents from 8.75 cents, but EPRA EPS fell 4.8% to 7.82 cents from 8.21 cents. Basic EPS reflected the gain on valuation. Headline EPS was 8.06 cents, down 0.7% from 8.12 cents.
Looking ahead, Sirius said it continues to target further growth options in both Germany and the UK on an opportunistic basis.
It said it is trading in line with its expectations so far in the 2026 financial year.
Sirius Real Estate shares were up 0.1% to ZAR23.06 in Johannesburg on Monday and up 0.4% to 95.70 pence in London.
By Artwell Dlamini, Alliance News reporter
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