Johannesburg - Hyprop Investments [JSE:HYP]
on Thursday declared a distribution of 198 cents per unit for the half-year to end-June 2012‚ up 9.4% from a year earlier.
Distribution growth benefited from a good performance and a positive trading environment at the company’s larger shopping centres‚ as well as savings in interest costs and improved performance from Sycom Property Fund and Southern Sun Hyde Park Hotel.
Hyprop is SA’s largest listed shopping centre fund‚ with 11 directly owned shopping centres.
Revenue increased to R1.066bn‚ from R563.8bn‚ while net property income rose to R702.7m‚ from R378.1m. Total vacancies in the portfolio as at June 30 were 3.8%.
The company said the key focus in the year ahead would be on the redevelopment of Rosebank Mall and smaller expansion projects at other existing shopping centres‚ as well as its expansion in Africa through Atterbury Africa.