Resilient gains 2.8% after H1 12% growth report

Desmond (Des) de Beer Managing director and chief executive officer of Resilient Property Income Fund

Retail property loan stock company, Resilient Property Income Fund (RES) shares gained 2.8% to R60.50 on Friday after it said it expected its distribution per linked unit for the six months ended June to rise 12%.

Resilient is changing its financial year end to June from December to facilitate its application for Real Estate Investment Trust status‚ it said.

Resilient is a specialised retail property loan stock company which has been listed on the Johannesburg stock exchange since December 2002. It owns a portfolio of dominant regional malls and shopping centres tenanted predominantly by national retailers. Most of Resilient’s properties are situated in non-metropolitan areas.