FMP | 2015 Interim unaudited Financial Results

By Published On: August 28th, 2015Categories: Corporate announcement

The Directors of First Mutual Properties have released the Company’s half year for six months ended 30 June 2015. Below are extracts from the financial statement.

  • Revenue for the period ended 30 June 2015 of $4.258 million (HY2014: $4.431 million), down by 3.90%. Revenue includes rental income and property services income;
  • Property expenses increased by 24.23% to $0.605 million (HY2014: $0.487 million) driven by an increase in expenses relating to vacant space;
  • Net property income before administration expenses declined by 1.08% to $3.255 million (HY2014: $3.290 million);
  • Administration expenses declined by 7.18% to $1.317 million due to savings in staff related costs, depreciation and group shared services fees; and
  • Operating profit before tax and fair value adjustment increased by 12.77% to $1.945 million (HY2014: $1.725 million) following savings on staff rationalization and external borrowing costs.

Acknowledgements

On behalf of your Board, I appreciate the invaluable support received from all stakeholders.

E.K. Moyo
Chairman
28 August 2015

Related download

FMP.zw – 2015 Interim financial results.pdf

The contents of the post above were obtained from third parties, which We, AfricanFinancials, believe to be reliable. However, We do not guarantee their accuracy and the above information may be in condensed form. The reader is encouraged to refer to the original source of the information, which, in most cases, is in PDF format and on the originating company's letterhead. While We endeavour to replicate the original content accurately, We cannot guarantee the absence of errors in the above article and We disclaim any liability regarding reliance on information provided in this article.

First Mutual Properties Limited (FMP.zw)

Share price: 1,566.67 ZWL cents ▼ (-18.28 | -1.15% – 22/03/23)

Sign up for Email Alerts

Recent Documents & News