Stenprop Limited, a Bermuda company which has dual primary listings on the Johannesburg Stock Exchange and the Bermuda Stock Exchange, today announces its results for the three months ended 30 June 2016.
The company is required to publish financial results for the three months ended 30 June 2016 in terms of the rules of the BSX. Accordingly, this announcement presents the unaudited condensed consolidated financial results of the Group in respect of the financial period from 1 April 2016 to 30 June 2016 in a form compliant with the requirements of the BSX.
“Our adjusted EPRA earnings per share for the three month period increased by 2.7% to 2.62cents per share compared to the three months ended June 2015. After the Brexit vote in the UK, Sterling fell by approximately 10% against the Euro. As our earnings are reported in Euros this is likely to have an impact in the next quarter when our sterling earnings are translated to euros. Our UK portfolio remains fully let so we do not anticipate any decline in earnings in Sterling. We expect to declare an interim dividend in November 2016, maintaining the historic pay-out ratio of 85% of diluted adjusted EPRA earnings per share. Our focus remains on delivering sustainable balanced growth for shareholders over time,” commented Paul Arenson, CEO of Stenprop.
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