Resilient: Investors tiptoe back into prime property
After all the bad news and allegations, the stock has begun to make up the ground it lost in 2018
Listed property group Resilient may again offer a buying opportunity for investors as it appears to have put the past behind it.
The company has spent nearly 20 years investing in shopping centres that dominate small towns and suburbs. It now has close to R25bn in assets in SA and investments in companies that own malls across Nigeria and Europe. These properties are relatively defensive in tough economic times.
The portfolio took a back seat last year after Resilient faced allegations of inflating profits and its share price through interrelated party deals and insider trading...