Revenue for the year grew to R90.3 million (R820 million) whilst operating profit before interest tumbled to R8.0 million (R21.0 million). Total comprehensive loss for the year attributable to shareholders came in at R7.1 million (income of R2.1 million). Furthermore, headline earnings per share were 0.52cps (loss of 2.78cps).
The board has considered the requirements for a distribution and advise that no distribution (0.9cps) will be declared for the year ended 30 June 2017.
Company future prospects
While trading conditions remained tight during the reporting period, the future prospects have improved from the prior period, with an increase in revenue over the prior period due to increase in occupancy and improved controls being implemented. This is set to continue in the new financial year.
A number of initiatives are underway, which are intended to both increase the properties held by the group, the results of operations as well as increasing shareholder spread.