The Far Property Company Limited Sees 22% Increase in Profit Before Tax in FY 2023

Published On: September 18, 2023Company: The Far Property Company Limited (FPC.bw)
What is the most notable financial improvement for 'The Far Property Company Limited' in FY 2023?
The most notable financial improvement for 'The Far Property Company Limited' in FY 2023 is the 22% increase in profit before tax, rising from P111 Million in FY 2022 to P136 Million.

Summary of Key Points

  • ‘The Far Property Company Limited’ (FPC.bw) 2023 Abridged report shows a positive revenue growth rate with an increase of 9%, improving from P141 Million in FY 2022 to P153 Million.
  • The profit before tax similarly exhibits a significant growth of 22% from P111 Million in FY 2022 to P136 Million.
  • The Rent yield and loan to asset ratio remain stable at the level of 10% and 18% respectively.
  • The net income from the operation had a rise of 11% from P102 Million (FY 2022) to P113 Million.
  • A distribution of 11.80 thebe per linked unit has been declared for the ended year.
  • The document presents the group financial result, which has been reviewed by the company’s external auditors.
  • The growth aim of this company includes a 50% payout to support the group’s continued expansion.
  • The prospects and strategy section specifies a move towards initiating new projects, increasing stable yields through portfolio diversification, and expanding the business with existing and new land banks.

Useful links

About The Far Property Company Limited (FPC.bw)

The Far Property Company is a publicly-listed enterprise on the Botswana Stock Exchange that specializes in constructing and managing residential and commercial properties in the region. It owns about 173 properties in Botswana and South Africa, the majority of them being warehouses and shopping centers. With two business segments and 3 active companies, Far Property has a collective presence in markets in Southern Africa.

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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