Attacq lifts distributable income 15.5% as Mall of Africa owner stays on double-digit growth
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Attacq, the JSE-listed Reit behind Waterfall City and Mall of Africa, reported 15.5% growth in normalised distributable income per share and a 17.2% rise in its full-year dividend for the year to 30 June 2026.
Attacq Limited, the South African real estate investment trust that owns Mall of Africa and drives the Waterfall City precinct, has reported another year of double-digit growth, with normalised distributable income per share up 15.5% and the full-year dividend per share up 17.2% for the year ended 30 June 2026.
Distributable income per share came in at 125.1 cents and the full-year dividend at 102 cents, both key reporting metrics for JSE-listed Reits. The growth is higher than that of many of Attacq's peers, but lower than the 25.6% distributable income and 26.1% dividend growth the group recorded in the 2025 financial year.
The group's gearing improved, with its loan-to-value ratio easing to 25% from 25.5% a year earlier. That is well below the 35% to 40% LTV levels typical of listed property companies, which are generally highly leveraged businesses.
Attacq CEO Jackie van Niekerk said the results exceeded expectations and reflected the resilience of the business, the quality of its assets and disciplined execution of its strategy. She has cautioned that South African Reits face increased headwinds from the effect of the Middle East conflict on oil prices, inflation and ultimately interest rates, while noting that the sector's balance sheets are stronger than in previous cycles.