REIZ Managing Director: Robin P.S. Miller
- The Group recorded a significant increase in gross rental income of 20% in 2014.
- Profit from operations has increased by 33%.
- In compliance with the introduction of a “final” tax on gross rental income, the Group saw a reversal of the deferred tax in the 2013 Statement of Financial Position of K124.11m leading to an income tax credit of K76.85m for that year.
- The tax charge for the 2014 financial year is shown as K4.63m in compliance with tax legislation.
- Profit after tax has therefore fallen substantially to K42.56m from K127.22m in 2013.
- As a result of this one-off credit, earnings per share (EPS) fell from K2.25/share in 2013 to K0.75/share in 2014.
- However, headline EPS has increased from K0.30 in 2013 to K0.41 per share in 2014.
FY 2014 financial results