Safari Investments reports a 12% rise in HEPS

Safari Investments (SAR), which listed on the JSE in April this year, on Wednesday reported a 12% rise in headline earnings per share to 28c for the six months ended September 2014.

Net asset value per share for the period was 817c from 743c in the year-earlier period.

Founded by Francois Marais fourteen years ago, Safari's property portfolio consists of seven properties. Four of the properties are established retail centres serving as regionals in their areas and are the income-generating assets in its portfolio.

These include Denlyn in Mamelodi‚ Atlyn in Atteridgeville‚ Thabong in Sebokeng and The Victorian in Heidelberg.

National retailers Shoprite‚ Spar and Pick n Pay anchor these centres.

Looking ahead‚ the company said it was committed to maximising its rental income streams with a proactive letting strategy‚ which was 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‚” it said.

Safari approved a gross cash distribution of 34c per share to be paid during December 2014.