REIZ | Release of 2017 Annual Report

Overview

The past year has been one of significant change; a year in which international and local events presented the local business community with new challenges and opportunities…

Performance

The financial performance of the Group is covered in detail in the Chief Executive Officer’s report. Key highlight is that the progress made in the consolidation of core business segments and cost containment helped post solid results in 2017. It is my firm belief that members’ confidence in REIZ will be retained and enhanced through the Group’s financial results and prospects highlighted in this Annual Report.

Future outlook

Despite the market and economic challenges faced in 2017, the year has been one of excellent progress in our strategic evolution, with good underlying growth achieved while making significant strides in enhancing and broadening REIZ’s property portfolio through new acquisitions and capital expenditure on existing properties. The expansion of our property portfolio gathered momentum as we commenced the redevelopment and refurbishment of the Arcades Shopping Mall and preliminary works at our Parkway Industrial Park and Solwezi Business Park advanced whilst negotiations were underway for a significant property acquisition. This momentum will continue in 2018.

Board/Management changes

At the Annual General Meeting held on 30th March, 2017, you elected Mrs Dorothy Soko as a new member of the Board of Directors. We were delighted to welcome Dorothy as a new Board member in April and she has now fully taken up her responsibilities as a Board member…

Conclusion

Last year’s robust performance, and the foundation that is being laid for sustainably profitable growth, are a tribute to the long-term vision of the Group’s future shared by REIZ’s board and management, and to the commitment with which it is being pursued. I would like to thank shareholders for placing their trust in us which continues to motivate us to exert all efforts to achieve the goals and aspirations of the Group. I would also like to take this opportunity to thank my fellow directors for their support and for the vision and intellect that they bring to the board and our tenants and other stakeholders for their continued support. Finally, I extend my sincere gratitude to management for their unwavering commitment to the Group’s business.

Kenny H. Makala
Chairman


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REIZ | 2017 Annual report

2018-04-24T16:02:23+00:00April 24th, 2018|Corporate Announcements, Downloads|0 Comments

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