BRIEF-Freedom Property Fund Says Material Uncertainty Exists That May Cast Significant Doubt On Ability To Continue As Going Concern

  • Reuters
  • Stock Market News
BRIEF-Freedom Property Fund Says Material Uncertainty Exists That May Cast Significant Doubt On Ability To Continue As Going Concern
Credit: © Reuters.

June 30 (Reuters) - Freedom Property Fund Ltd FDPJ.J :

* NO DIVIDENDS WERE DECLARED OR PAID DURING PERIOD UNDER REVIEW OR DURING COMPARATIVE PERIOD

* FY REVENUE INCREASED BY 7% FROM R24,579 MILLION TO R26,377 MILLION

* FY HEADLINE LOSSES PER SHARE INCREASED FROM 0,98 CENTS TO 1,38 CENTS

* COVID-19 AFFECTS GROUP, MAY RESULT IN SOME MATERIAL UNCERTAINTIES FOR FUTURE FINANCIAL POSITION, PERFORMANCE AND CASHFLOWS

* A MATERIAL UNCERTAINTY EXISTS THAT MAY CAST SIGNIFICANT DOUBT ON GROUP'S ABILITY TO CONTINUE AS A GOING CONCERN

* EXPECTS FALL IN RENTAL RECOVERIES FROM MAY ONWARD, INCREASE IN VACANCIES DUE TO TENANTS' INABILITY TO MEET RENTAL OBLIGATIONS

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