NAP earnings jump on higher rentals
Tuesday, November 03, 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.
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...