NAP earnings jump on higher rentals

Riverwalk Mall
Riverwalk Mall

An increase in net rental income and operating profit helped property investment company, New African Properties (NAP) register a 7.7 percent increase in distributable earnings for the year ended July 31, 2015.

During the year, distributable earnings amounted to P117.4 million or 19.43 thebe per linked unit, an increase on the comparable P109 million (18.03 thebe per linked unit) on the prior year.

Management attributed the growth to a 9.6 percent increase in net rental income and a corresponding 9.3 percent increase in operating profit, offset by lower net investment income following decreases in interest rates.

Editor's Comment
Botswana at a critical juncture

While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...

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