Putprop HEPS down slightly

JSE-listed property investment company Putprop on Monday reported headline earnings per share (HEPS) of 42.8c for six months ended December 2013 from 47.8c a year ago.

JSE-listed property investment company Putprop on Monday reported headline earnings per share (HEPS) of 42.8c for six months ended December 2013 from 47.8c a year ago.

The company declared an interim dividend of 18c per share.

Putprop said gross property revenue was up 13.5% to R19.9m and net profit before tax was R22.2m compared to R23m in 2012.

The company said it expected trading conditions during the next reporting period to be challenging.

“The property market both locally and internationally is expected to remain subdued in the second half of the year. We will continue to focus on growing the portfolio‚ with the possibility of joint ventures with partners with similar strategies being considered” it said.