Atlantic Leaf targets solid acquisitions

By
Font size: Decrease font Enlarge font
Atlantic Leaf Properties CEO Paul Leaf-Wright says he was pleased that there was now a solid asset base of income producing assets, from which to grow the company. Atlantic Leaf Properties CEO Paul Leaf-Wright says he was pleased that there was now a solid asset base of income producing assets, from which to grow the company.

Atlantic Leaf Properties, the Mauritian-based property company which is listed on the Johannesburg Stock Exchange (JSE), says it will continue to pursue further asset acquisitions over the year ahead.

SEE NEW DEVELOPMENT: Business Gateway — Mon Trésor Industrial Freeport Zone in Mauritius

Releasing the first quarter results, Atlantic Leaf Properties CEO Paul Leaf-Wright says he was pleased that there was now a solid asset base of income producing assets, from which to grow the company. 

Adjusted headline earnings per share of 1.76 pence for the first quarter to May 2015 was in line with its expectations, Atlantic Leaf said.

The company said it concluded the acquisition of the British Capital portfolio at the beginning of this quarter and these assets contributed positively to the return.

Subsequent to the quarter end, the company successfully raised £30.4 million of new capital by issuing 12.4 million shares on the Stock Exchange of Mauritius (SEM) at £1.10 per share and 15.2 million shares on the JSE at R20.54 per share.

"This capital raise sees the company now well capitalised and positioned for further growth," Atlantic Leaf said.

The company also made two significant acquisitions subsequent to quarter end.

 On July 1, it concluded the purchase of seven new properties at a total value of £18.1 million with an expected forward yield of 7.4%. On July 2, in a follow on acquisition, the company acquired the balance of the Booker portfolio 70% at a gross property value of £89.4 million and a forward yield on the property of 8.1%.

Read more on:

Stock Exchange of Mauritius (SEM)  |  Johannesburg Stock Exchange (JSE)  |  Atlantic Leaf Properties  |  Paul Leaf-Wright

Mon Tresor Business Gateway

  • Email to a friend Email to a friend
  • Print version Print version

Newsletter

Africa Property Investment News | Commercial & Residential Property | Real Estate and Construction News
News and promos in your inbox