Positive MAS reports 6.6% increase in net rental income

MAS, the JSE-listed owner of retail and commercial properties in Central and Eastern Europe (CEE), increased net rental income by 6.6% on a like-for-like basis, driven by a good operational performance and strong rental and service charge collections.

- EDWARD WEST

The company generated a total shareholders' return of 12% for the year to June 30, the results showed Friday. Distributable earnings came to 9.53 eurocents a share, 27.7% higher than in 2025. Of this, 4.44 eurocents a share related to the second half, within the previous guidance range of 4.28 to 4.70 eurocents a share for the six months to June 30, 2025. The company said Friday there was a significant contribution from the Development Joint Venture (DJV) in the year to June 30, which is the property development joint venture between MAS and its major shareholder Prime Kapital Investments.

The DJV’s commercial assets delivered outstanding results, boosted by the opening of the second super-regional mall in Romania, Mall Moldova, in April 2025. It residential segment losses significantly reduced, enhancing overall profitability.

Irina Grigore, MAS CEO, said the strong performance underscored the resilience and quality of the directly owned portfolio in CEE.