BRIEF-Spear REIT Says Co Well Positioned To Deliver On Management's Guidance For FY 2019

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BRIEF-Spear REIT Says Co Well Positioned To Deliver On Management's Guidance For FY 2019
Credit: © Reuters.

Oct 18 (Reuters) - Spear REIT Ltd SEAJ.J :

* INTERIM DISTRIBUTION OF 41.73 CENTS PER SHARE FOR SIX MONTHS ENDED 31 AUGUST 2018

* ON A LIKE-FOR-LIKE BASIS, INTERIM PERIOD TO INTERIM PERIOD DIVIDEND PER SHARE GROWTH IS 6.5 PCT

* PORTFOLIO REMAINS STABLE AND WELL POSITIONED TO DELIVER ON MANAGEMENT'S GUIDANCE FOR 2019 FINANCIAL YEAR.

* S.A. ECONOMY AND POLITICAL LANDSCAPE REMAIN IN UNCERTAIN TERRITORY PLACING STRAIN ON ITS PEOPLE AND ITS INVESTMENT ATTRACTIVENESS.

* SPEAR REIT LTD HY HEADLINE EARNINGS PER SHARE 44.25 CENTS

* GUIDANCE PROVIDED IN MAY 2018 IS UNCHANGED.

* AS ECONOMIC CLIMATE DETERIORATES MANAGEMENT IS MINDFUL THAT COMMERCIAL OFFICE SECTOR COULD BE NEGATIVELY IMPACTED

* MANAGEMENT WILL REMAIN FOCUSED ON ACQUISITION OF CONVENIENCE RETAIL ASSETS

* CURRENT PERFORMANCE OF DOMESTIC ECONOMY AND ENVIRONMENTAL IMPACT CONTINUE TO PRESENT CHALLENGES TO HOSPITALITY SECTOR

* POLITICAL & ECONOMIC ENVIRONMENT REMAINS CONCERN AS BUSINESS SENTIMENT CONTINUES TO DETERIORATE

* LOCAL MARKET CONTINUES TO WEAKEN WHICH MAY START TO PUT PRESSURE ON GENERAL BUSINESS RESULTING IN UNDUE PRESSURE ON COMMERCIAL OFFICE MARKET

* TRADING CONDITIONS WITHIN HOSPITALITY SECTOR HAVE STARTED TO IMPROVE WITH EARLY GREEN SHOOTS BECOMING EVIDENT IN HOTEL OCCUPANCIES

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