INGENUITY PROPERTY INVESTMENTS LIMITED - Trading statement

Trading statement

INGENUITY PROPERTY INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2000/018084/06)
ISIN: ZAE000127411 JSE share code: ING
(“Ingenuity” or “the company”)

TRADING STATEMENT

In terms of paragraph 3.4 (b) of the Listings Requirements of the JSE Limited,
Ingenuity expects to announce for the year ended 31 August 2017:

-   headline earnings per share (“HEPS”) of 0.6 cents, which is a decrease of
    83% when compared to the HEPS of 3.6 cents reported for the
    corresponding year ended 31 August 2016;

-   earnings per share (“EPS”) of 8 cents, which is a decrease of 42% when
    compared to the EPS of 13.8 cents reported for the corresponding year
    ended 31 August 2016; and

-   net asset value per share (“NAVPS”) of 124 cents, which is an increase of
    4% when compared to the NAVPS of 119 cents reported for the
    corresponding year ended 31 August 2016.

Earnings per share have decreased mainly due to finance charges on additional
borrowings utilised for acquisitions and interest rate swap contracts concluded,
which increased the total finance charges for the year by R 50.5 million.
The positive factor resulting from the swaps is that the company has now hedged
72% of its total borrowings for periods expiring between November 2020 and
August 2022, at an all-in weighted average rate as at 31 August 2017 of 9.62%.
The company has also negotiated long term leases providing secure income to
off-set the greater cost of funding.

The above information has not been reviewed or reported on by the company’s
auditors and the company’s results for the year ended 31 August 2017 are
expected to be published on or about 10 November 2017.


Cape Town
2 November 2017

Sponsor
Nedbank CIB

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