Attacq Limited today posted its annual results for the year ended 30 June 2016. The year was a highlight year for Attacq and the company showed healthy results, despite a very challenging local climate and volatile international market conditions.
Attacq Chief Executive Officer Morné Wilken confirmed the company’s vision to be the premier property fund in South Africa that delivers exceptional, sustainable capital growth through creative local and international real estate developments and investments.
“Our pursuit of our vision is to invest in quality real estate, develop great properties and grow a strong rental portfolio in South Africa, as well as other emerging and developed markets,” he said.
Attacq achieved a 15.3% growth in Adjusted NAVPS to R21.89 per share for the full year, with the compound annual growth rate in Adjusted NAVPS being 29.4% since inception. Attacq’s total asset value grew by 18.6% to R27.6 billion, since June 2015 when it stood at R23.3 billion. The international portion of Attacq’s assets showed positive growth both in value and percentage contribution to the overall net asset value with international assets increasing by 34.5% to R5.9 billion. The Waterfall bulk that has been completed increased by 49.5% to a total of 410 000m2. Attacq also performed well with an increase in net rental income of 17.2% to R1.1 million and this includes only two months of rental income from Mall of Africa, which was completed at the end of April. Vacancies reduced from 4.0% in June 2015 to only 2.4% in June 2016. The development profit made in the period from Mall of Africa is approximately R580 million and around R178 million from other developments.