Mall operator Attacq shoots out lights in shopping mall property market

CAPE TOWN – Attacq, a South Africa-focused shopping mall operator, shot the lights out in the tough property market after lifting core distributable earnings per share 23.9percent in the six months to December 31.

The dividend per share grew by 11.1percent to 45cents, a growth rate that not only exceeded management’s earlier guidance of 8 to 10percent, but which was also well above current average real estate investment trust (Reit) sector payout growth levels, chief executive Melt Hamman said in an interview yesterday.

Attacq’s share price was up 6.12percent to R9.71 at the close on the JSE yesterday.

Trading density growth in the retail portfolio was at 5.7percent, with the recently completed Mall of Africa having increased by 10.1percent.

Chief operating officer Jackie van Niekerk said they were happy with the continuous growth of Mall of Africa.