21st October 2017
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Company Data
 
STANLIB FAHARI I-REIT
http://www.stanlibkenya.com
Par Value:                  
Closing Price:           10.35
Total Shares Issued:          180972300.00
Market Capitalization:        1,873,063,305
EPS:             0.59
PE:                 17.542
 

H1 Rental and related income 137.969452m vs. 120.855334m +14.161%
H1 Straight lining of lease income [2.674906m] vs. 88.625294m -103.018%
H1 Other income 52.850748m vs. 87.346054m -39.493%
H1 Operating Expenses [112.546133m] vs. [160.844428m] -30.028%
H1 Increase/ [decrease] in fair value of investment property 2.674906m vs. [88.625294m] +103.018%
H1 Operating profit 78.274067m vs. 47.356960m +65.285%
H1 Finance costs vs. [22.955567m]
H1 Net profit for the period 78.274067m vs. 24.401393m +220.777%
Basic EPS 0.43 vs. 0.13 +230.769%
Headline EPS 0.42 vs. 0.49 -14.286%
Distributable EPS 0.43 vs. 0.13 +230.769%
Total Assets 3.694459035b vs. 3.677967790b +0.448%
Total Equity 3.573328950b vs. 3.515729819b +1.638%
Net Asset Value per share 19.75 vs. 19.43 +1.647%
Cash and cash equivalents at the end of the period 393.999343m vs. 363.138822m +8.498%
No interim dividend

Company Commentary

currently owns 3 properties [a shopping centre and two semi office light industrial buildings] valued at 2.4b.
The REIT as delivered growth of 221% in earnings for the 6 month period ended 30th June 2017
currently ungeared

FY Revenue 337.576486m
FY Rental and related income 248.572436m
FY Straight-lining of lease income 89.004050m
FY Interest income 111.209231m
FY Other income 137.856149m
FY Fund operating expenses [180.422344m]
FY Operating expenses [265.053969m]
FY Increase in fair value of investment income [81.004050m]
FY Operating profit 129.374616m
FY Finance costs [23.374328m]
FY Net profit for the period 106.000288m
Basic Earnings per unit 0.59
Headline Earnings per unit 0.89
Distribution earnings per unit 0.54
Investment property 2.439729976b
Total assets 3.715011411b
Cash and cash equivalents at end of period 440.186650m

Commentary

Net Asset value per Unit 19.81
Dividend 0.50 a share

Conclusions

I will have to dig deeper but the Discount to NAV is noteworthy.

STANLIB Fahari I REIT 7 months results through 30th June, 2016

Revenue 117.939894m
Other income 77.882552m
Operating expenses [113.675700m]
Operating profit 82.146746m
Finance costs [22.982868m]
Profit before Tax 59.163878m
Total comprehensive income for the period 53.009839m
EPS 0.293
Headline EPS 0.232
Investment property 2.417755551b
Total assets 3.689666182b
Equity 3.531975591b
Cash and cash equivalents at the end of the period 1.111781269b
Units Issued : 180,972,300
Average Price Over the last 5 Weeks
Average Price Over the last 5 Months
No. Of Shares Traded Over the last 5 Weeks
No. Of Shares Traded Over the last 5 Months
Market Capitalization Over the last 5 Weeks
Market Capitalization Over the last 5 Months
Data Source: Nairobi Stock Exchange
Trading Day: 19 Oct 2017
 
Downloads
 
  29-SEP-2017 ::  Public Announcement
  Extension to Increase Property Portfolio to 75%.

Download N.S.E Announcement
   
  31-JUL-2017 ::  HALF YEAR RESULTS
  Unaudited Financial Results for the Six Months ended 30th June 2017.

Download N.S.E Announcement
   
  24-MAR-2017 ::  Full Year Results
  Audited Financial Statements for the Thirteen Month Period Ended 31st December 2016.

Download N.S.E Announcement
   
 
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