The group announced a 5% increase in distribution to 96,0 cents (2004: 91,5 cents) which, together with a 43% increase in share price over the 12 month period, gives a total return of 56%.
Property loan stock (PLS) company Pangbourne will soon move some prime properties into iFour, the PLS of which it bought 33% earlier this month. This could push iFour's holdings above R1bn.

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