Growthpoint reports improved KPIs despite high interest rates

JSE-listed retail estate investment trust (REIT) Growthpoint Properties has reported improvements in the majority of key performance indicators (KPIs), including arrears, rental reversion rates, valuations and vacancies, for its South African business for the financial year ended June 30 The company noted, however, that a strong operational performance has been overshadowed by the negative impact of high interest rates, lower dividends from Globalworth Real Estate Investments (GWI) and reduced profit from the South African trading and development division.