Oryx sees 30% earnings growth

Oryx Properties expects its profit, headline earnings and earnings per linked unit to increase by more than 30% for the year to June 2026.

The company said the increase was partly due to an unusually low comparative base in 2025, when changes to tax legislation resulted in the derecognition of deferred tax assets.

Oryx expects its net asset value, distribution per linked unit and adjusted distributable income to increase by less than 10%.

The 2026 performance was also supported by higher fair-value gains on investment properties and a full year's contribution from Platz am Meer Retail Centre in Swakopmund, which Oryx acquired on 30 June 2025.

Operationally, the property group performed more strongly. Commercial vacancy fell to 2.4% from 4.2%, while distributions increased by 4.9% to 108 cents per linked unit.

The group's property portfolio was valued at about N$4.7 billion at the end of June 2025.

Platz am Meer became a more significant contributor in the 2026 financial year. Interim results for the six months to December 2025 showed operating rental income had increased by 20.4%, while net rental income rose by 16.8%, largely reflecting the first full contribution from the retail centre. Excluding Platz am Meer, operating rental income grew by 8.9%.

Oryx's 2025 performance generated a total return of 21% for unitholders, comprising 12% capital growth and 9% income return. The company is listed on the Namibia Securities Exchange.

The trading statement is based on unaudited information and has not yet been reviewed or reported on by Oryx's external auditors. The company said unitholders should exercise caution when dealing in its linked units pending publication of the audited results.