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JustIn: Oryx generates N$175 mln in net rental income

Jo-Maré Duddy
For the period ending 31 December 2022, locally-listed Oryx Properties Limited maintained its positive momentum in financial and operational performance, resulting in rental income increasing by 10.8% (Dec 2021: 2.9%) to N$175 million (Dec 2021: N$158 million), while containing vacancies to a minimum and achieving 6.1% (Dec 2021: 5.9%).

The group said it was encouraged by the strong first six months’ performance during which rental reversions amounted to 7% (June 2022: -7.3%), following tenant collections averaging 104% (Dec 2021: 91%).

Improved tenant collections resulted in reversals to provision for bad debts amounting to N$12.5 million, which contributed towards the decrease in other expenses to N$10.2 million (Dec 2021: N$18.5 million).

“Oryx’s prudent financial and cash flow management strategies have positioned it well, resulting in gearing decreasing to 36.5% (Dec 2021: 38.1%) at period end,” the group said.

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Republikein 2024-11-02

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Premier League: Ipswich Town 1 vs 1 Leicester City | Southampton 1 vs 0 Everton | Nottingham Forest 3 vs 0 West Ham | Liverpool 2 vs 1 Brighton | Bournemouth 2 vs 1 Manchester City | Newcastle 1 vs 0 Arsenal Katima Mulilo: 22° | 37° Rundu: 21° | 38° Eenhana: 23° | 37° Oshakati: 26° | 37° Ruacana: 22° | 37° Tsumeb: 25° | 35° Otjiwarongo: 20° | 36° Omaruru: 19° | 37° Windhoek: 20° | 33° Gobabis: 21° | 33° Henties Bay: 13° | 19° Wind speed: 18km/h, Wind direction: S, Low tide: 09:22, High tide: 03:42, Low Tide: 21:44, High tide: 15:44 Swakopmund: 13° | 16° Wind speed: 18km/h, Wind direction: SW, Low tide: 09:20, High tide: 03:40, Low Tide: 21:42, High tide: 15:42 Walvis Bay: 13° | 22° Wind speed: 21km/h, Wind direction: SW, Low tide: 09:20, High tide: 03:39, Low Tide: 21:42, High tide: 15:41 Rehoboth: 19° | 35° Mariental: 20° | 38° Keetmanshoop: 18° | 35° Aranos: 20° | 37° Lüderitz: 15° | 27° Ariamsvlei: 19° | 34° Oranjemund: 13° | 21° Luanda: 24° | 26° Gaborone: 22° | 38° Lubumbashi: 18° | 33° Mbabane: 19° | 37° Maseru: 16° | 34° Antananarivo: 16° | 31° Lilongwe: 21° | 32° Maputo: 22° | 37° Windhoek: 20° | 33° Cape Town: 15° | 20° Durban: 20° | 27° Johannesburg: 22° | 33° Dar es Salaam: 25° | 30° Lusaka: 21° | 34° Harare: 19° | 32° Currency: GBP to NAD 22.78 | EUR to NAD 19.12 | CNY to NAD 2.48 | USD to NAD 17.66 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 132.84 | USD to AOA 909.05 | USD to BWP 13.36 | USD to EGP 48.88 | USD to KES 129.2 | USD to NGN 1650.44 | USD to ZAR 17.64 | USD to ZMW 26.78 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1867.43 Up +0.66% | Casablanca Stock Exchange (CSE) MASI 14269.96 Up +0.72% | Egyptian Exchange (EGX) 30 Index 30658 Up +0.94% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 736.45/OZ DOWN -0.0038 | Copper US$ 4.33/lb DOWN -0.0044 | Zinc US$ 3 084.50/T UP 0.27% | Brent Crude Oil US$ 73.32/BBP DOWN -0.0152 | Platinum US$ 992.03/OZ UP +0.21% Sport results: Premier League: Ipswich Town 1 vs 1 Leicester City | Southampton 1 vs 0 Everton | Nottingham Forest 3 vs 0 West Ham | Liverpool 2 vs 1 Brighton | Bournemouth 2 vs 1 Manchester City | Newcastle 1 vs 0 Arsenal Weather: Katima Mulilo: 22° | 37° Rundu: 21° | 38° Eenhana: 23° | 37° Oshakati: 26° | 37° Ruacana: 22° | 37° Tsumeb: 25° | 35° Otjiwarongo: 20° | 36° Omaruru: 19° | 37° Windhoek: 20° | 33° Gobabis: 21° | 33° Henties Bay: 13° | 19° Wind speed: 18km/h, Wind direction: S, Low tide: 09:22, High tide: 03:42, Low Tide: 21:44, High tide: 15:44 Swakopmund: 13° | 16° Wind speed: 18km/h, Wind direction: SW, Low tide: 09:20, High tide: 03:40, Low Tide: 21:42, High tide: 15:42 Walvis Bay: 13° | 22° Wind speed: 21km/h, Wind direction: SW, Low tide: 09:20, High tide: 03:39, Low Tide: 21:42, High tide: 15:41 Rehoboth: 19° | 35° Mariental: 20° | 38° Keetmanshoop: 18° | 35° Aranos: 20° | 37° Lüderitz: 15° | 27° Ariamsvlei: 19° | 34° Oranjemund: 13° | 21° Luanda: 24° | 26° Gaborone: 22° | 38° Lubumbashi: 18° | 33° Mbabane: 19° | 37° Maseru: 16° | 34° Antananarivo: 16° | 31° Lilongwe: 21° | 32° Maputo: 22° | 37° Windhoek: 20° | 33° Cape Town: 15° | 20° Durban: 20° | 27° Johannesburg: 22° | 33° Dar es Salaam: 25° | 30° Lusaka: 21° | 34° Harare: 19° | 32° Economic Indicators: Currency: GBP to NAD 22.78 | EUR to NAD 19.12 | CNY to NAD 2.48 | USD to NAD 17.66 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 132.84 | USD to AOA 909.05 | USD to BWP 13.36 | USD to EGP 48.88 | USD to KES 129.2 | USD to NGN 1650.44 | USD to ZAR 17.64 | USD to ZMW 26.78 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1867.43 Up +0.66% | Casablanca Stock Exchange (CSE) MASI 14269.96 Up +0.72% | Egyptian Exchange (EGX) 30 Index 30658 Up +0.94% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 736.45/OZ DOWN -0.0038 | Copper US$ 4.33/lb DOWN -0.0044 | Zinc US$ 3 084.50/T UP 0.27% | Brent Crude Oil US$ 73.32/BBP DOWN -0.0152 | Platinum US$ 992.03/OZ UP +0.21%