RDC Properties Limited has continued to impress on the stock market and if their un-audited half year results are anything to go by – they present potential investors with a must have acquisition.
As of June 30 2016, the share price had rocketed by 14% from P2.30 per share to P2.63 per share.
By market close at time of print, the shares had appreciated by 1 thebe to P2.64 indicating the shares highest value.
Investors will be pleased to hear that the company is also finally trading at a slight premium to the net asset value of the company.
Perhaps, this can be attributed to a 42% increase in profit before tax.
It had previously stood at P18.5 million and now stands at P26.3 million.
In addition, the company has also embarked on a vigorous campaign to boost their investment and property portfolio in the region.
These expansions include projects in Mozambique which seek to accommodate retailers such as Choppies who last week confirmed their interest to work in conjunction with RDC.
Other regional investments include property in Namibia and a Memorandum of Understanding has been reached with partners pertinent to retail developments primarily located in the north of the country.
However, it is not all good news south of the border. The proposed development of the Business Hotel in the Central Business District of Cape Town has been deferred as unexplained issues have arisen in regards to the subdivision of the property.
It is also noted that other developments in South Africa are under scrutiny and it is yet to be determined which direction will be taken.
Conversely, closer to home, Masa Centre has for the first time produced cash dividends and their suites are now fully operational.
The same can be said for the much anticipated G-West warehouse extension which has also been completed.
A myriad of other developments owned by RDC are also close to fruition.
These developments include flats extensions located in extension 9.
When all of these investments, both locally and regionally, are taken into account – RDC seems like a viable opportunity for prospective investors.
One need only look at the company’s past five year summary to discern that annual growth is the standard.