Orion FY headline earnings/unit 0.30c v 0.07c

Property fund Orion Real Estate (ORE) on Friday reported an improvement in headline earnings per linked unit to 0.30c in the year to June‚ from 0.07c in prior comparable period.

Revenue slipped to R91.2m‚ from R95.4m previously. Comprehensive income attributable to equity holders declined to R30.47m‚ from R47.9m a year ago.

The average vacancy factor of the portfolio had also improved from 27.7% in June 2012 to 15.41% in June.

“The decrease in income despite the improved occupancy is a clear indication of very tight trading conditions‚” the fund said in a statement.

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