THAKRAL expects to deliver distributions of 7 cents for FY08 – on par with FY07 but unlike its property trust peers, the group has reported a jump in property valuations.
Thakral yesterday announced a final estimated distribution of 4.25 cents – bringing the total distribution for the 2008 financial year to 7 cents.
The group has decided to unveil preliminary results from its property valuations.
Managing director John Hudson said in light of current market announcements by other A-REITs, the board has decided, given current expectations and in the spirit of continuous disclosure, to announce that THG expects that the value of its hotels, retail and commercial property portfolio will increase by between $65 million and $80 million.
As a result, the net tangible asset backing is expected to rise between 11 cents and 13 cents per stapled security, to between $1.40 and $1.42 per stapled security.
Thakral’s shares closed 4.5 cents lower at 80 cents.
Australian Property Journal
