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Heriot changed its year end from 31 May to 30 June.
The following results are the company's maiden final results since listing and change in year-end from May to June, thus, are incomparable. Rental income came to R444.8 million whilst profit from operations was R322.8 million. Profit attributable to equity holders of R498.4 million was recorded. In addition, headline earnings per share were 70.44 cents per share .

Distribution declaration

Distribution number two of 44.18000 cents per share for the seven months ended 30 June 2018 will be paid to shareholders.

Company prospects

The board is of the view that the dividend per share will grow at between 9% and 11% per share for the financial year ending 30 June 2019. This growth has been determined with reference to the distributable earnings of 73.27 cents per share for the year ended 31 May 2018.

This forecast is based on the assumption that there will be no change in the current trading conditions of the existing portfolio, a stable macro- economic environment will prevail, tenants will be able to absorb rising utility cost and that there will be no major corporate failures.
The company released its maiden interim results. No comparative figures have been presented. Rental income was R199.1 million and profit from operations came to R152.3 million. Net profit after taxation attributable to equity holders of the company was R235.3 million. In addition, headline earnings per share was 31.71 cents per share.

Distribution declaration

Distribution number 1 of 35.09000 cents per share for the six months ended 30 November 2017.

Company prospects

The board is confident that Heriot is well-positioned to achieve the forecast distribution of 71.67 cents per share as disclosed in the PLS issued on 17 July 2017.

(Official Notice)
(Official Notice)
Shareholders are advised that Steven Herring has stepped down as chief executive officer of the company but will remain on the board as a non-executive director. Richard Lawrence Herring has been appointed as chief executive officer and an executive director of Heriot with effect from 18 August 2017.

Richard is a qualified chartered accountant who completed his articles at Grant Thornton (previously Fisher Hoffman Sithole). In 2003, Richard joined Heriot Properties Proprietary Limited where he gained extensive experience in the management and development of the retail portfolio.
Heriot REIT Ltd. (Heriot) is a property holding and investment company that owns a diversified portfolio of retail, industrial, commercial and specialised properties in South Africa valued at R4.155 billion.

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