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
Oh what a State funeral!

That rare sight deserves heartfelt praise, not only for President Duma Boko and his administration, but also for the Botswana Democratic Party (BDP), the Umbrella for Democratic Change (UDC), the Mogae family, and the entire country.President Boko’s decision to grant a full state funeral to a man who belonged to a rival party was a mark of true statesmanship. He recognised that national leadership carries a weight that belongs to the whole...

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