Tag: Laurence Rapp
At a time when many property companies are struggling Vukile has posted healthy performance. The group reported a continued strength in their Southern African portfolio and well diversified sources of funding. Vukile Property Fund CEO, Laurence Rapp joins CNBC Africa for more.
Vukile Property Fund interim results saw a total revenue increase from R1.2 billion to R1.8 billion. In South Africa the company expects a distribution growth of up to 5 per cent. Vukile CEO, Laurence Rapp joins CNBC Africa for more.
Vukile Property Fund reported a good year as it successfully expanded its property footprint across Southern Africa and Spain. The property retailer’s investments are valued at more than R30 billion, net asset value per share is up almost 1 per cent to 2026 cps. Vukile Property Fund has managed to maintain its solid credit record by diversifying its debt to reduce financial risk although the company debt for the period increased R13.2 billion. Vukile Property Fund CEO, Laurence Rapp joins CNBC Africa for more.
Vukile Property has reported its interim financial results, declaring an increase in dividends of 7.5 per cent to 78 cents per share. The property group has also reported an increase in operating profits and total valuation of the Southern African portfolio. It also revealed that Michael Potts, has withdrawn his intention to retire by 31 March 2019 and will continue to occupy the role of financial director until further notice. Joining CNBC Africa to discuss the results is Laurence Rapp, CEO for Vukile Property Fund.