Octodec shares jump 6.8% after results
2013-10-23 · Industrial Developments news
Shares in Octodec Investments (OCT) jumped 6.8% in early trade on Wednesday following the release of its annual results.
The group earlier reported a 14.8% increase in its distribution to 157.6c per linked unit for the 12 months ended August 2013. The interim distribution was 78.7c per linked unit with a final distribution of 78.9c per unit.
Its net asset value grew 18.7% to R22.33 per unit.
The group invests in the retail‚ industrial and office property sectors and has a growing residential component in its portfolio.
Rental income and net rental income increased by 10.6% and 7.2% respectively compared with the previous year.
The group is considering a number of redevelopment opportunities for some existing properties‚ which will enhance the quality of the property portfolio and result in sustainable distributions in the future.
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