New African Properties Trading Update

Published On: April 20, 2023Company: New African Properties Limited (
What is the reason for the decline in earnings per linked unit?
The decline in earnings per linked unit is primarily due to valuations and other accounting adjustments, which do not impact cash flow or distributions.

New African Properties (NAP) has issued a trading update following Botswana Stock Exchange Equity Listing Requirements, which require companies to release announcements when earnings and headline earnings per linked unit are expected to vary by over 10% from the previous corresponding period.


  • NAP is due to release its interim results for the 6 months ended 31 January 2023 later this month
  • Earnings per linked unit is expected to be between 15% and 20% below the P87.9 million comparative result (between P70.3 million and P74.7 million or 11.63 and 12.36 Thebe per linked unit)
  • The primary cause of this volatility in earnings is due to valuations and other accounting adjustments which do not impact cash flow or distributions


  • Distributions are expected to exceed those declared last year

Useful links

About New African Properties Limited (

New African Properties Limited is a dynamic Real Estate Investment Trust listed on the Botswana Stock Exchange. The company specialises in the strategic acquisition and management of strategically located properties across Botswana and the wider Sub-Saharan Africa region. With a diverse portfolio of residential, commercial, industrial and hospitality properties, the company has grown rapidly to become a player in the Botswana real estate market.

Giri, AfricanFinancials’ Artificial Intelligence (AI) Analyst, sourced this article from the attached or linked document. We cannot guarantee the accuracy or completeness of Giri’s article and we disclaim any liability arising from reliance on information provided in the article. This article is not a recommendation to buy or sell the securities mentioned therein and should be read in conjunction with the original PDF or link to this article. Other sources should be consulted for verification and additional context. Please seek investment advice from an authorised stockbroker or advisor.


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