InvestecDistributions climb by 7.1%

Investec Property Fund yesterday reported 7.1 percent growth in distributions to 46.83c a unit in the six months to September from 43.73c a unit in the previous corresponding period. Chief executive Sam Leon said the results were underpinned by solid property fundamentals and achieved despite a tough economic environment by focusing on tenant retention and the addition of yield-enhancing properties. He said income was increased by 29.3 percent. Shares closed 1.39 percent higher at R14.60. – Roy Cokayne