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Afican Oil Sector Poser

African Oil Sector Poser

10 Jul 2014 | Nick Hedley

Published in Business Day of Thursday 10 July 2014, page 10

LACK of infrastructure and skills means the cost of oil projects in Africa will be “significantly higher” than in other regions over coming years, according to research and consulting firm GlobalData.

The firm predicts in a report that global refining capital expenditure will total $333bn between this year and 2020, or an annual average of about $48bn. Expenditure in Asia and the Middle East will account for a combined 70% of the world’s total spending.

 

Vukile Financial Results for Year Ending 31 March 2014

HIGHLIGHTS FROM LATEST FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2014

> Property portfolio exceeds R10 billion mark.

> Net asset value per linked unit up 9.42% to 1 498 cents.

> Earnings per linked unit down 16.0% to 229.71 cents.

> Headline earnings per linked unit up 20.2% to 163.68 cents.

> Annual normalised distribution per linked unit up 5.0% to 126.49 cents.

> Gross property revenue up 19.1% to R1.389 billion.

> 10 year compound annualised total return to unitholders 23.6%.

> Return on capital for the year 18.0%.

> Profit available for distribution up 24.7% to R694 million.

Click here for the full results in PDF