Resilient REIT Limited

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Resilient REIT Limited (2021-11)
  • Resilient REIT Limited
  • Year : Nov 2021
3 Tokens
USD 300.00
Summary

The portfolio delivered a robust performance for FY21 despite the challenging landscape with the imposition of trading restrictions through the peak festive period resulting in a 5% contraction in revenue. This continues to demonstrate the defensiveness of the South African retail portfolio, which targets dominant non-metropolitan centres with large grocery and convenience offerings. As such, the vacancy rate remains very low at 2.3% (FY20: 2.1%), supporting the 2% upward revaluation of the SA portfolio in FY21.

Additional Information

The Stable Outlook reflects GCR’s expectations that the REIT’s earnings will remain robust and treasury management will remain consistently conservative. Positive ratings migration could follow increased earnings contribution and investment exposure to highly developed regions over the medium term, while maintaining a very conservative leverage profile.

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