Hyprop posts 13.4% H1 distribution growth

Hyprop’s strategy of investing in shopping centres that dominate catchment areas has seen the real estate investment trust declare a dividend of 297.8c a share for the six months ended December 31 – up 13.4% from the comparative period. “We maintained robust growth in all key indicators,” highlighted Hyprop CEO Pieter Prinsloo, adding that distributable earnings for the period benefited from Rosebank Mall’s positive growth, following its redevelopment. He also attributed the group’s positive results to additional income from the new sub-Saharan African investments as well as exchange-rate gains of R8.1-million, owing to the weakened rand.