Tower Property Fund reports full-year revenue decline as COVID-19 bites

Tower Property Fund reported an annual revenue decrease of 16.1 per cent due to a reduction in rental income as results of the sale of non-core properties during the year and a R55.1 million pay from the sale of Napier Street residential units in the prior year. The groups headline earnings for the year has decreased by 23 per cent and it reduced its full year dividend by 40 per cent to 44.5 cents per share. Tower Property Fund CEO, Marc Edwards joins CNBC Africa for more.

Fri, 21 Aug 2020 10:56:32 GMT
Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.