The company focuses on shopping centres in Eastern Europe‚ with assets primarily in Romania. Aside from the JSE‚ New Europe Property Investments is listed on London's AIM and the Bucharest stock exchange.
New Europe Property Investments achieved distributable earnings of 13.92 euro cents per share for the second half of the year to December‚ which was in line with earnings forecast. This result combined with 11.87 euro cents per share for the first half of 2013‚ represented a 23.5% improvement in recurring income when compared with 2012.
Chief executive Martin Slabbert said 2013 was successful for his group because of a strong performance from its assets and the favourable effect of acquisitions and developments completed during the financial year.
"The results are not surprising to me. We have had plans in place for years and managed to do well in Romania where our competition fell over‚ especially during the recession‚" he said.
Grindrod Asset Management's chief investment officer Ian Anderson has praised New Europe Property Investments this year‚ saying it is a stock that South Africans should consider when investing offshore because of its forecast of 15% earnings growth each year‚ in 2014‚ 2015 and 2016.
"New Europe Property Investments is well run by a South African team based in Romania. It is part of the Resilient stable of property companies and it is walking over the property competition in Romania," Anderson said.
"The yields that New Europe Property Investments was able to secure on development projects outdid the company's average cost of capital by a large margin‚" he added.
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
