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 Aug 21 2020 | 10:56:32 GMT+0000 (Coordinated Universal Time)


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