Indluplace delivers on FY targets

Despite tough market conditions, JSE-listed real estate investment trust (Reit) Indluplace Properties had a “very good year” in the 12 months to September 30, with CEO Carel de Wit stating that the company had grown its diversified portfolio and proved to be a significant player in the provision of value-for-money rental housing. Its headline earnings for the financial year were up 13% to R247.43-million, compared with R218.22-million in the 2016 financial year, while revenues increased to R409-million, compared with R349-million in the prior year.