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South African Property Opportunities Share News (SAPO)

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Worsening rand a problem for SAPRO

Mon, 21st Dec 2015 10:39

(ShareCast News) - The South African rand played a smaller part in South African Property Opportunities' losses for the financial year, but the group still saw asset value decline in its results posted on Monday.SAPRO declared an operating loss of £6.147m for the year ended 30 June, widening from the £2.268m loss in 2014.The AIM-listed property investment group saw net asset value decline by 16p per share, to 21p per share, over the period.SAPRO put this decline down to a distribution of 5p per share in October 2014, and the net loss for the year of 11p per share."The loss of 11p per share arises from foreign exchange losses (2p per share), valuation falls and asset sales at sales prices less than the last reported carrying value (8p per share), and operating expenses of 1p per share", chairman David Hunter said in a statement.The company's cash balances stood at £1.2m at the end of the period, after the 5p per share distribution which totalled £3.1m.SAPRO's foreign exchange loss was smaller in 2015, standing at £1.091m - down from £7.686m. This brought the total loss before tax to £6.898m, which was actually smaller than 2014's figure of £8.966m.The worsening currency conditions in South Africa were still a significant issue for the group at year end, however."The South African Rand has continues to move adversely against the Sterling, from an exchange rate of ZAR-GBP 18.19 at 30 June 2014 to 19.09 at year end, a 4.7% fall," Hunter added."This trend has continued with significant political and economic unrest post the year end."At 1030 GMT on Monday, the exchange rate was 22.3653 ZAR-GBP.

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18 May 2018 16:21

Polemos Appoints John Tracy As Non-Executive Director

LONDON (Alliance News) - Polemos PLC said Friday it appointed John Treacy as Non-Executive Director with immediate effect.Concurrently, Non-Executive Directors Spencer Wilson and Daniel the

11 May 2018 12:05

South African Property Makes Board Changes As Trading On AIM Resumes

LONDON (Alliance News) - South African Property Opportunities PLC said Friday it has made several changes to its board as it shares are readmitted to trading on the AIM market of the London Stock

2 May 2018 13:44

South African Property Opportunities Shares Temporarily Suspended (ALLISS)

LONDON (Alliance News) - The London Stock Exchange said Wednesday that trading in shares of investment company South African Property Opportunities PLC has been temporarily suspended on AIM last a

27 Apr 2018 16:57

South African Property Non-Exec Director Stephen Coe Steps Down

LONDON (Alliance News) - South African Property Opportunities PLC said Friday Non-Executive Director Stephen Coe has resigned with immediate effect for personal reasons.Non-Executive David

24 Apr 2018 11:02

Investors In South African Property Opportunities Oppose Wind-Up Plans (ALLISS)

LONDON (Alliance News) - South African Property Opportunities PLC said Tuesday that investors holding a 81% stake were prepared to vote against proposals to de-list and wind-up the firm in early -

3 Apr 2018 11:45

South African Property Opportunities Planning To Voluntarily Wind-Up

LONDON (Alliance News) - South African Property Opportunities PLC confirmed on Tuesday it is to seek shareholder approval to voluntarily liquidate the company.On last a

29 Mar 2018 10:28

WINNERS & LOSERS SUMMARY: C4X Shares Double On Indivior Licensing Deal

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------Wm Morrison

29 Mar 2018 10:11

South African Property Shares Sink As It Plans Cancellation From AIM (ALLISS)

LONDON (Alliance News) - South African Property Opportunities PLC on Thursday said it intends to propose the winding-up of the company shortly after the unsuccessful attempt a

6 Jan 2017 14:35

South African Property Opportunities making capital return

(ShareCast News) - South African Property Opportunities confirmed on Friday that a return of capital of 7.25p per ordinary share will be paid to shareholders. The company said this "represented the cash proceeds available for distribution from the portfolio realisations to date". The distribution c

23 Dec 2016 10:03

Latest Share Chat

South African Property Opportunities Share News (SAPO)

Worsening rand a problem for SAPRO

Polemos Appoints John Tracy As Non-Executive Director

South African Property Makes Board Changes As Trading On AIM Resumes

South African Property Opportunities Shares Temporarily Suspended (ALLISS)

South African Property Non-Exec Director Stephen Coe Steps Down

Investors In South African Property Opportunities Oppose Wind-Up Plans (ALLISS)

South African Property Opportunities Planning To Voluntarily Wind-Up

WINNERS & LOSERS SUMMARY: C4X Shares Double On Indivior Licensing Deal

South African Property Shares Sink As It Plans Cancellation From AIM (ALLISS)

South African Property Opportunities making capital return

WINNERS & LOSERS SUMMARY: PayPoint Sale And Special Payout Lift Shares

South African Property Opportunities Offloads Remainder Of Portfolio

South African Property Opportunities Net Assets Fall In Half

South African Property Opportunities Sees Challenges For Six Assets

South African Property Opportunities To Sell African Renaissance Project

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