Smaller loss for Oryx

Jo-Maré Duddy – Locally-listed Oryx Properties reported a total comprehensive loss of about N$32.1 million for the year ended 30 June 2021, significantly lower than the loss of around N$88.4 million in the previous book-year.
The group released its latest annual results on the Namibian Stock Exchange (NSX) today, showing net rental income of about N$227.5 million, up 1% year-on-year (y/y).
The commercial and residential vacancy factors deteriorated to 5.9% (June 2020: 5.4%) and 11.2% (June 2020: 10.8%) respectively.
The group’s distribution per linked unit for the year ended 30 June 2021 amounts to 99.75c per unit (June 2020: 69.79cpu), being interest of N$87 million (June 2020: N$61 million).
“The increase in distribution compared to June 2020 is the result of not declaring a final distribution during the 2020 financial year. The result of unit holders voting in favour to reduce the minimum distributions pay-out ratio to 75% for a three-year period resulted in the board of directors deciding on only paying out 75% of distributable income for the final six-month period in order to further improve the overall liquidity of the group,” Oryx said.