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Rockcastle reports interim headline loss of 1.65 US cents

Listed Property, REIT, Real Estate Funds
Posted On Tuesday, 28 January 2014 15:22 Published by
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Rockcastle reports a headline loss of 1.65 US cents in the six months ended December 31 from a profit of 13.79 US cents a year earlier.

Rockcastle MDGlobal real estate group Rockcastle on Tuesday reported a headline loss of 1.65 US cents in the six months ended December 31‚ from a profit of 13.79c a year earlier.

In line with guidance‚ the company’s dividend for period under review increased by 4% on an annualised basis to 4.07c per share. Although dilutionary in the short term‚ Rockcastle said it had increased its exposure to higher-growth stocks‚ which currently trade at lower yields.
 
This is expected to limit income growth to approximately 4% in the current financial year but will benefit growth in the future. Projects in the pipeline include an investment in a substantial new retail mall development in Africa‚ which is being evaluated.
 
The group said additional details would be provided in due course. At 1.36pm‚ the stock was down 0.99% at R15‚ valuing the company at R7.9bn.
Last modified on Tuesday, 28 January 2014 18:56
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