Vukile Property Fund reported a 6.7% rise in FFO per share, reaching 154.2c for the year ending March.
- Dividend Growth: The total dividend for the year increased by 10.5% to 124.2c per share, fully covered by cash from operations.
- Strong South African Portfolio: Vukile’s South African retail portfolio saw like-for-like net operating income growth of 5.4% and reduced vacancies to 1.9%.
- Flourishing Spanish Expansion: The Castellana portfolio in Spain reported an 11% increase in normalized net operating income with negligible vacancies.
- Solid Liquidity Position: Vukile ended the year with significant available cash balances of R2.4bn and undrawn debt facilities of R2.9bn.
- Proactive Capital Raising: The group raised R1.7bn from new share issuances and secured a R1.1bn green loan and sustainability-linked funding.
- Future Growth Outlook: Vukile expects to deliver 2%-4% growth in FFO per share and 4%-6% growth in dividend per share for the year ending March 2025.