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Ascencia’s action-packed quarter and performance

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Bagatelle Mall

The last quarter has been quite an eventful period for Ascencia, owner and manager of the largest malls on the island.

It migrated to the Official Market of the SEM, opened Decathlon and 42 Market Street in Bagatelle Mall – which celebrated its 10th anniversary with an additional 2,600 Sqm of GLA whilst Phoenix Mall confirmed its connection to a Metro Station by mid-2022.

The acquisition of the remaining stake in Bo’valon Mall was approved and will further ascertain our position of market leader in this southern region of Mauritius.

In its Abridged Unaudited Group Financial Statements for the quarter ended 30 September 2021 published on the Stock Exchange of Mauritius, Ascencia said the footfall and trading densities across the portfolio were up by 1.9% and 10.0% respectively.

The renewal of leases during the quarter was successfully completed while collection was strong at the rate of 108 % of billing.

Total revenue rose slightly from Rs328million for the quarter ended Sep2020 to RsRs344million for the same period this year.

Profit for the quarter rose marginally to Rs118million compared to Rs113m for the same period last year.

It has declared an interim dividend of Rs.0.37 per share payable to ordinary shareholders. This dividend is in respect of the financial year ending 30 June, 2022 and will be payable in full to all ordinary shareholders of the Company registered at the close of business on 25 November, 2021.

Ascencia added that it is on track with regards to the major projects for the remainder of the year including the next phase of the Bagatelle extension.

Nonetheless, it claimed to be exercising caution for the rest of the financial year with the termination of the Wage Assistance Scheme and increasing supply chain challenges faced by its tenants.

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