Resilient declares 12.83% distribution growth

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

Resilient Property Income Fund (RES) on Tuesday declared a distribution of 136.23c per linked unit in the six months to June‚ up 12.83% from 120.74c in the comparative period a year ago.

“Notwithstanding indirect exposure to platinum mining in the North West‚ Resilient’s property portfolio performed ahead of budget‚” the company said.

“Resilient benefited from the strong performance of its listed holdings‚ particularly the offshore holdings where dividends benefited from the decline of the rand exchange rate.
Vacancies increased from 1.7% in December 2012 to 1.8% as at June 2013.

The largest vacancy was at Tubatse Crossing which was 6.6% vacant at June 2013.