Heriot reports record earnings growth

HERIOT REIT, the AltX-listed diversified South African property company, saw a landmark year after it increased distributable earnings by 26.1%, its most ever, to R389.21 million for the year to June 30.

- EDWARD WEST

The distribution per share (DPS) increased by 14.3% to 121.91 cents in the year to June 30. The growth in DPS was not directly aligned with distributable earnings, as the Thibault REIT acquisition initially led to an about 4% dilution in DPS, but delivered a 7% increase in net asset value per share.

A final dividend of 65.07 cents a share, on a 100% payout ratio, was declared for the six months to June 30, a 14.5% increase compared to the final dividend for the same period in 2024.

The company's management said on Friday that the results reflect the resilience of its portfolio, with a strong performance by its emerging market retail and industrial assets, in spite of persistent local and global macroeconomic headwinds.

“The company delivered robust results, reflecting management's expertise, disciplined investment strategy, and a portfolio anchored by blue-chip national tenants,” they said.