Tradehold’s South African business, the Collins Group, delivered outstanding results in the six months to end August, achieving a net profit of £3.3m.

Despite a drop in profits, Tradehold’s management believes the company, which operates mainly in South Africa and the UK, has weathered well the highly volatile and demanding conditions that defined its 2020 financial year to end February.

In the year to February, 2019 Tradehold, with property interests split between southern Africa and the United Kingdom, made several far-reaching structural and operational changes to the company to strengthen its balance sheet and tighten its focus.

Over 30,000 excited shoppers welcomed the new 27,500m2 Dunes Mall in Walvis Bay, Namibia, on its opening day of 26 October 2017.

Listed property company Tradehold (JSE:TDH) has completed its acquisition of the Collins Group, with the purchase of the Collins Group’s South African property portfolio, as well as its property development and management business.

In the six months to August, Tradehold maintained the strong expansion momentum begun last year, growing the value of its investment properties by 48.8% to £179.0m (R3.8bn). 

New appointment to the board of Directors.

Tradehold says work has started on its R480m regional shopping centre, which is located in the harbour town of Walvis Bay, Namibia.