Growthpoint says high interest rates will dent its full-year distributable income

Given the impact of high interest rates across its local and international businesses, JSE-listed Growthpoint Properties expects its distributable income per share (DIPS) to decline by 10% to 12% for the financial year to end on June 30. Despite achieving “robust” operational results across its local and international investments for the six-month period to December 31 2023, high interest rates globally have impacted on property values, equity and debt markets, and capitalisation and discount rates.