BRIEF-Indluplace Properties Expects Vacancies For H1 Of FY To Be Better Than Same Period Last Year

  • Reuters
  • Stock Market News
BRIEF-Indluplace Properties Expects Vacancies For H1 Of FY To Be Better Than Same Period Last Year
Credit: © Reuters.

March 13 (Reuters) - Indluplace Properties Ltd ILUJ.J :

* EXPECT VACANCIES FOR FIRST HALF OF FINANCIAL YEAR TO BE BETTER THAN SAME PERIOD LAST YEAR

* PORTFOLIO HAS PERFORMED IN LINE WITH EXPECTATIONS IN HY

* CONFIRM HY GUIDANCE AS SET OUT AT BEGINNING OF FINANCIAL YEAR

* CURRENTLY PORTFOLIO IS 94% OCCUPIED (FEB 2019: 91%)

* PORTFOLIO BAD DEBTS, ARREARS NUMBERS REMAIN UNDER CONTROL IN HY AS PER EXPECTATIONS, IN LINE WITH PREVIOUS COMPARABLE PERIODS

* REMAIN COMMITTED TO KEEPING CURRENT LOAN TO VALUE RATIO OF 36% STABLE

* ENGAGED FUNDERS TO RE-FINANCE LOANS COMING UP FOR RENEWAL IN SEPT, OCT

* HAVE SOLD OR AGREED SALE TERMS OF 27 PROPERTIES (AVERAGE 13 UNITS) MAINLY IN SOUTH JOHANNESBURG & TRIFECTA STUDENT ACCOMMODATION IN DURBAN

* PROCEEDS OF SALES OF ABOUT R69 MILLION TO BE MAINLY APPLIED TO CUT DEBT, FUND CAPITAL EXPENDITURE

* PROCESS OF IDENTIFYING AND DISPOSING OF NON-CORE PROPERTIES CONTINUES

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