Moneyweb – Arrowhead and Exemplar deliver better than expected results
Despite tough market conditions well before the Covid-19 outbreak in South Africa, JSE-listed real estate counters Arrowhead Properties and Exemplar Reitail posted financial results ahead of expectation this week. Arrowhead, which has a dual A and B share structure, reported distributable income growth of 4.1% to 56.77 cents for its A share. The group also narrowed the distribution per share (DPS) decline of its B share to -7.69%, which translated to 31.46 cents for the half year compared to 34.08 for the corresponding prior period. Metope Investment Analyst Kelly Ward comments on the results.