Revenue for the year rose to R1 342 million (2012: R1 253 million) and operating profit climbed to R766 million (2012: R666 million). Profit attributable to equity holders increased to R1 441 million (2012: R581 million). However, headline earnings per share grew to 152.35 cents per participatory interest (2012: 81.73 cents per participatory interest).

Income distribution declaration
Notice is hereby given that a final cash distribution of 58.90 cents per participatory interest has been declared, payable to participatory interest holders on 16 September 2013.

Prospects
PI holders are expected to gain from the substantial decline in vacancies, the successful management of property expenses and the renegotiation of certain interest-rate swap contracts. The STREM Board believes that these benefits, together with the contractual escalations on the bulk of the portfolio, will, based on current expectations, result in real distribution growth in the coming year. The forecast financial information on which this statement has been based has not been reviewed or reported on by the Funds auditors.

Click here for original article
distributed by