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
Mabogo dinku a thebana

According to both the acting director of Veterinary Services, Kobedi Segale and acting Lands and Agriculture minister, Edwin Dikoloti, the virus currently raging through the North-East mostly likely first entered the country during the festive season.From the “unprecedented” number of cases picked in testing last week, it is likely that cattle and other livestock could have been infected last year, without being reported.Animal health...

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