Safari posts ZAR155.9 million profit for the year

11 plc

Safari in its fonancial report for 2017 recorded and increase in Revenue to ZAR205.0 million compared to  ZAR171.6 million recorded same period 2016.

whilst operating profit grew to ZAR144.6 million in 2017 against ZAR124.1 million posted in the year before. Profit for the year shot up to ZAR155.9 million versus ZAR81.5 million recorded in 2016 .

In addition, headline earnings per share lowered to 43 cents per share compared to 47 cents per share  in the previous year.

A cash distribution of 34 cents per Safari share was approved based on a scrip dividend process where shareholders will have theoption to reinvest their cash dividend for new Safari shares at an issue price of ZAR7.60 per share.

The development and extension as detailed above ensures that Safari will maintain its attractive portfolio growth. Above- inflation increases in utility cost and continued financial market volatility are expected to continue. The Board is committed to maximising the rental income streams with the proactive letting strategy focused on national tenants, and minimising the operating expenditure. The Board will focus on opportunities in order to achieve sustainable long-term, recurring distributable earnings.

Leave a Reply

Your email address will not be published.