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Octodec HY revenue increases 5.2%

However, its full-year dividend is expected to fall.

JSE-listed real estate investment trust, Octodec released their interim results today. For the six months ended February, the company reports that its portfolio of properties saw total rental income up 5.2%, compared to the corresponding period last year, to R47.9-million. The company’s property are mainly in the Gauteng region, with the vast proportion of their assets in Pretoria. They’ve reported a tough period, with residential income rising a mere 3.9% and, in some instances, having to agree to lower lease agreements with existing tenants because of the tough economic times. To discuss what’s been happening in the rental property space, Nompu Siziba speaks with Jeffrey Wapnick, Octodec’s MD.

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