Trading statement and updated guidance
INDLUPLACE PROPERTIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2013/226082/06)
JSE share code: ILU ISIN: ZAE000201125
(Approved as a REIT by the JSE)
("Indluplace" or "the company")
TRADING STATEMENT AND UPDATED GUIDANCE
Shareholders were advised in the company's results for the year ended 30 September 2018 that the company
expected dividends per share for the year ending 30 September 2019 to be down by up to 10%. This was due
to the difficult consumer environment and the non renewal of bulk contracts at Highveld View.
Although negotiations around bulk contracts at Highveld View continue, none have been concluded. In
addition, trading conditions experienced by the company across the portfolio have been more challenging than
anticipated. The financial constraints experienced by tenants have resulted in lower rentals being achieved,
increased the need for rent specials to incentivise leasing, increased vacancies and increased evictions of non-
paying tenants with associated legal costs.
As a result of these conditions, the company anticipates that the dividend per share for the six months ended
31 March 2019 will be approximately 37,4 cents per share, being approximately 23% lower than the dividend
per share for the six months ended 31 March 2018 of 48,6 cents per share.
While the company anticipates improved operational performance in the second half of the year the ongoing
challenging environment has required the company to re-evaluate the distribution guidance previously
provided. As a result, dividends per share for the year ended 30 September 2019 are expected to be down by
approximately 20%, when compared to the prior year.
The information on which the trading statement and the updated guidance have been based has not been
reviewed or reported on by the company's auditors.
Indluplace's results for the six months ended 31 March 2019 will be announced on SENS on 9 May 2019.
3 May 2019
Date: 03/05/2019 10:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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