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
About New African Properties Limited (NAP.bw)
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.
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