|The company had a change in year end. No comparative figures have been presented. Rental income was R225.8 million and profit from operations came to R153.3 million. Net profit after taxation attributable to equity holders of the company was R114.2 million. In addition, headline earnings per share was 33.90 cents per share.|
Payment of dividend
The board has approved and notice is hereby given of gross dividend number 3 of 39.50 cents per share for the six months ended 31 December 2018.
The board remains confident that Heriot will deliver growth of 9,0% to 11,0% in distributable income per share for the year ending 30 June 2019. This growth has been determined with reference to the distributable earnings of 73,27 cents per share for the 12 months 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. This forecast has not been audited or reviewed by the Company's auditors.
|Shareholders are referred to the announcement released on SENS on 31 October 2018 and are hereby notified that in accordance with the JSE Listings Requirements, the company's annual compliance report in terms of section 13G(2) of the Broad-Based Black Economic Empowerment Act 53 of 2003 read with the Broad-Based Black Economic Empowerment Amendment Act 46 of 2013, has been published and is available on the company's website, www.heriotreit.com/assets/downloads/governance/2018-B-BBEE-certificate.pdf.|
|Shareholders are advised that at the annual general meeting of shareholders held on Friday, 7 December 2018 (in terms of the notice dispatched on 31 October 2018) all the resolutions tabled thereat were passed by the requisite majority of shareholders.|
|Shareholders are advised in terms of paragraph 3.78 of the JSE Listings Requirements, that the Company has been informed by its audit firm, Grant Thornton Johannesburg Partnership ("Grant Thornton"), that there has been a change in its network firm membership from Grant Thornton to BDO South Africa Inc ("BDO"). The change was initiated by Grant Thornton following the merger of Grant Thornton and BDO, effective 1 December 2018.|
Accordingly, the audit firm of the Company is now BDO and the designated audit partner, Paul Badrick, has remained unchanged. The Company will in due course follow the process detailed in paragraph 3.84(g)(iii) of the JSE Listings Requirements relating to BDO. This process will be completed before BDO signs its next audit report. It is important to note, that whilst the designated audit partner has remained unchanged, the audit and risk committee of the Company will request and consider the separate information about BDO, as the Company is deemed to be appointing BDO for the first time.
|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 number two of 44.18000 cents per share for the seven months ended 30 June 2018 will be paid to shareholders.
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 number 1 of 35.09000 cents per share for the six months ended 30 November 2017.
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.
|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.|