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Stenprop Limited Announce Half-Yearly Report to 30 September 2015

Hamilton, Bermuda: 25 November 2015 –Stenprop Limited advises the market of the posting of interim financials to 30 September 2015 and announced highlights as follows:

 

HIGHLIGHTS

FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2015

 

EUR1.68 EPRA NAV per share

1.8% increase in EPRA NAV per share since year-end

5.17 cents diluted adjusted EPRA earnings per share

5.5% increase on the pro forma** diluted adjusted EPRA EPS at 2 October 2014

4.2 cents interim dividend per share declared

 

- Declaration of interim dividend on 25 November 2015 of 4.2 cents per share for the six months ended 30 September 2015, payable with a scrip alternative on 28 January 2016.

 

- Diluted adjusted EPRA EPS* of 5.17 cents for the period ended 30 September 2015 representing a 5.5% increase on the pro forma** diluted adjusted EPRA EPS at 2 October 2014.

  Diluted IFRS EPS was 9.86 cents.

 

- EPRA net asset value per share of EUR 1.68, an increase of 1.8% since the year-end. IFRS net asset value per share was EUR 1.62 per share.

 

- Completion in May 2015 of the acquisition of a 50% interest in 25 Argyll Street, a multi-let office building located in London's West End, based on a purchase price of the property of GBP75 million (EUR 101.2 million).

 

- Completion of refinancing of GBP64.6 million (EUR 87.1 million) of debt on two London properties in May 2015.

 

- Completion in August 2015 of the acquisition of the Hermann Quartier retail centre in Berlin at a purchase price of EUR 22.7 million.

 

- Migration to the JSE's Main Board with effect from 5 October 2015.

 

- Notarisation in June 2015 of the Victoria retail centre in Berlin at a purchase price of EUR 20.6 million, with completion on 24 November 2015.

 

The full report is available as a PDF on this website or at

 

www.stenprop.com