RDC Properties Limited Reports 9% Revenue Increase and 12% Operational Profit Growth in HY2023 Interim Report

Published On: September 26, 2023Company: RDC Properties Limited (RDCP.bw)
What have been the key achievements of RDC Properties Limited in their interim report for HY2023 ?
The key achievements include a strong set of results despite economic challenges, with revenue and operational profit increasing by 9% and 12% respectively. Other notable achievements include a reduction in portfolio vacancy rates to 9.9%, an effective debt reduction strategy, and strong initiatives in renewable energy and social responsibility programs.

Summary of Financial Results

  • This interim report reflects a robust performance for RDC Properties Limited given the macroeconomic challenges.
  • The investment portfolio increased to P5.9 billion, from P5.8 billion during the previous comparable period.
  • Group revenue increased by 9% to reach P272.9 million compared to the prior period.
  • Profit from operations saw a 12% increase, amounting to P159.3 million.
  • However, the profit before tax decreased by 60% due to unrealised fair value reductions on interest rate derivatives and fair value adjustments made on investment properties held for sale.
  • The net profit before tax, excluding the aforementioned items, increased by 27% or P13.6 million compared to the previous period.
  • The company has managed to reduce the loan to value by 1.1%, bringing it down to 44.9%.
  • The Group is in a strong cash flow position, with an increase in cash from operations by 12%.

Operations, Highlights and Prospects

  • Amid economic changes and inflation rates, RDC was able to reduce its portfolio vacancy rate to 9.9%.
  • Property management was effective as tenant retention was 97% of the Gross Lettable Area.
  • New Zambian asset is expected to contribute to the operations moving forward.
  • Non-core properties were disposed, of primarily to pay down debt.
  • In response to the energy crisis in South Africa, RDC ramped up its solar generation program.
  • The company has also focused on water consumption and waste management as part of its ESG strategy.
  • RDC has supported various sectors such as education, women’s upliftment and the arts as part of their Corporate Social Responsibility (CSR) program.
  • The report indicated the presence of RDC Properties Limited in the IFSC registry from 1st January 2023.

Useful links

About RDC Properties Limited (RDCP.bw)

RDC Properties Limited is a Botswana Stock Exchange-listed real estate company with a focus on industrial, commercial and residential properties in Gaborone and surrounding areas. The company’s mission is to provide innovative and reliable services for the acquisition, development, and leasing of quality real estate. RDCP is primarily operating in Botswana, South Africa, United States of America (USA), Mozambique, Madagascar and Namibia.

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.


Giri, our AfricanFinancials AInalyst, was born in 2006. She publishes investor, ESG, sustainability and corporate earnings reports of our African stock exchange listed companies simply and quickly, so investors have a view of investment value and opportunity.

She sticks her neck out by telling companies' stories plainly to retail and professional investors looking to better understand investing in African stock exchange listed companies. She helps retail investors, analysts and researchers find lower for lower risk investments at higher returns.

So "See the bigger picture" by reading her top-down views. Go long on African equities. Invest for higher returns. Stay on top and tower above the rest.