1H27 Pre-close Highlights
Our diversified business model provides resilience in an increasingly volatile global environment, underpinned by a robust real estate platform, diversified asset classes, broad geographic exposure, recurring fee income streams and multiple sources of capital.
1H27 Pre-close Highlights
1H27 Pre-close Group Performance
1H27 distributable income per share (“DIPS”) growth expected marginally below the 4–6% full-year guidance range; full-year guidance remains unchanged
Full-year dividend per share (“DPS”) growth guidance remains unchanged at 7–9%
Strong growth from the South African portfolio expected to offset European performance
Total fund and asset management fee income expected to grow c.20% YoY, with further capital deployment weighted to 2H27
Successfully launched SA Core Plus platform alongside Nedbank Property Partners, expected to release c.R4.5 billion of capital and create capacity for growth
Agreed framework terms with Blackstone for an orderly transition of the existing European partnership, providing greater certainty over the Group’s remaining exposure
Group operating costs expected to remain broadly flat YoY, reflecting operational leverage as the platforms scale
Positive momentum into 2H27, with further capital deployment expected to drive earnings growth
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