Attacq: Results expected to be much stronger

ATTACQ anticipated reporting significantly stronger financial results for the 12 months to June than previously forecast, the property company known previously as Atterbury Investment Holdings reported on Friday. It expected its net asset value a share at the end of June would be between 22 percent and 27 percent higher than a year earlier. Attacq said its earnings a share for the period were expected to be between 30 percent and 35 percent higher and its headline earnings a share between 290 percent and 310 percent higher than the forecast provided in the company’s prospectus. The firm, which listed its R12.5 billion commercial and retail property assets on the JSE in October last year, said it had adopted net asset value a share as its relevant financial results measure for determining whether it was required to issue a trading statement and did not consider earnings-based financial metrics a suitable measure of performance because of its capital growth business model. Attacq expected to publish its annual results on September 30. The shares closed 2.82 percent higher at R20.08 on Friday. – Roy Cokayne