Get to know your JSE companies: GROWTHPOINT PROPERTIES LTD (JSE: GRT)

On 16 March 2022, Growthpoint released its interim results for the six months ended 31 December 2021. The company reported a strong financial performance, with profit increasing significantly to R3.65bn compared to a loss of R1.31bn in the previous corresponding period. Group funds from operations (FFO) increased 17.6% to R2.64bn (1H2021: R2.24bn). Group distributable income increased by 5.1% to R2.63bn (1H2021: R2.5bn). The net asset value (NAV) increased 6.2% to 2 148 cents (FY2021: 2 023 cents).

Growthpoint is the largest South African primary JSE-listed REIT with high-quality property assets diversified across international geographies, sectors and income streams. Growthpoint’s property portfolio comprises 56.9% South African assets and 43.1% international assets, and most of the portfolio is in economic nodes within major metropolitan areas.

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