Atlantic on target with its forecast

Atlantic Leaf Properties Limited says it is on track to achieve its earnings forecast and a full-year distribution of 8.5 British pence per share for its 2017 February financial year-end.

By Alistair Anderson

17 Jan 2017

This would be a 21% increase from a year earlier.

The company, which is based in Mauritius and invests in commercial property assets in light industrial nodes in the UK, on Friday, 13 January, reported its results for the nine months to November. As at November 30 2016, the company had a total of £308m in assets under management, up 42% since February 2016.

CEO Paul Leaf-Wright said Atlantic Leaf had consolidated its position during the period, culminating in a successful move to the main board of the JSE.

"This was a quarter of consolidation and the results are pleasing in that we are on track to achieve our forecast earnings for the 2017 year.

"These results follow on the back of recent moves by the company, namely the successful migration of our listing from the Alternate Exchange to the main board on November 7 2016," Leaf-Wright said. He said Atlantic Leaf had moved to the main board because it was seeking a larger, wider profile of shareholders and to become a more liquid stock. It would be cautious in the coming months given the strengthening rand.

Source: Business Day