November 3, 2016 / 5:26 AM / 3 years ago

BRIEF-Redefine Properties sees growth in 2017 distributable income per share between 7.5 -8.5 pct

Nov 3 (Reuters) - Redefine Properties Ltd

* FY operating margin maintained at 80%

* Redefine properties - declared a distribution of 44,3 (2015: 41.0) cents per share for six months ended 31 August 2016, an increase of 8.0 pct (2015: 7.5 pct) on comparable period

* FY property assets expanded by r8,9 billion

* Redefine properties - property portfolio revenue for year contributed 98.5 pct (2015: 94.8 pct) of total revenue, income from listed securities represented 1.5 pct (2015: 5.2 pct)

* At 31 August 2016, Redefine’s diversified, local property portfolio was valued at r54,7 billion (2015: r52,8 billion)

* Growth in distributable income per share for 2017 is anticipated to range between 7.5 pct to 8.5 pct

* Most pressing factor in present situation is lack of investor confidence

* On international front, low interest rates, volatile exchange rate movements and tepid growth are set to continue Source text for Eikon: Further company coverage:

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