Redefine Properties reports 62.7% decline in headline earnings
Redefine Properties has reported a 62.7 per cent decline in headline earnings per share for the half year ended February 2021. The company's revenue also took a knock by 30.8 per cent, but despite all this, they still may declare a dividend later this year. Andrew König, CEO of Redefine Properties joins CNBC Africa for more.
Mon, 17 May 2021 11:22:58 GMT
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AI Generated Summary
- Redefine Properties reports a 62.7% decline in headline earnings per share for the half-year period, along with a 30.8% reduction in revenue.
- Despite the challenging financial results, the company is considering the possibility of declaring a dividend later in the year, based on prudence and strategic decision-making.
- Redefine Properties is actively managing liquidity, negotiating rental deferrals with tenants, reducing debt, and adapting its property portfolio to align with changing market dynamics and work environment trends.
Redefine Properties, a leading property company, has recently reported a significant decline in headline earnings per share for the half-year period ending in February, with a 62.7% drop. Despite facing challenges with a 30.8% reduction in revenue, the company remains optimistic about potentially declaring a dividend later this year. In a recent interview with CNBC Africa, Andrew Koenig, the CEO of Redefine Properties, shared insights into the company's strategic decisions and future outlook. Koenig highlighted the importance of prudence and flexibility in navigating the current market uncertainties and challenges brought about by the ongoing global pandemic. The company's approach towards liquidity management, rental deferrals, debt reduction, and adapting to the changing work environment were key topics of discussion. Redefine Properties has been actively engaging with tenants and focusing on enhancing the human experience within its properties to meet evolving needs and ensure sustainability in a post-pandemic world.