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General information

Sector: Financials

The company is not available at Interactive Brokers

Safari Investments RSA Limited (JSE:SAR) is a property investment company that specialises in quality commercial investments. Through selective investments in property the group creates value for its stakeholders as it strives for sustainable growth and earnings.

At Safari the group works to unlock value through prudent asset management, yield enhancing acquisitions and sensible development or redevelopment opportunities while maintaining a clear and focused investment strategy in line with its risk appetite and company culture.

Safari creates value for its stakeholders by investing in quality assets, benetting from active asset management based on ethical leadership and sound corporate governance principles.
Safari’s pursuit of sustainable value creation incorporates economic prosperity, social responsibility and environmental protection.
TENANTS can expect space requirements met and catered for as best as possible as their business evolves or expands and strong lines of communication and relations with the group's internal leasing and tenant coordinating staff.
SHOPPERS can expect a pleasant and safe retail and business environment linked to public transport networks and an optimum mix of national and local retailers all at one destination.
LOCAL COMMUNITIES can expect stimulation of job opportunities, one stop shopping destinations close to home reducing transport costs and consideration of community needs and preferences at revamp and expansion phases.
SHAREHOLDERS can expect year on year growth of the property portfolio value through yield accretive acquisitions and developments or redevelopment of strategically well positioned properties.
EMPLOYEES can expect fair remuneration, incentives, career development and training, and a safe and enjoyable work environment.



  • Bad financial results growth rate -17.1% (average between last period year over year growth for revenue and Net Income), there is slowdown compared to average historical growth rates (0.6%)
  • Dividend yield for the last twelve months 0.0%
  • Share price is 53.5% higher than minimum and 18.3% lower than maximum for the last 3 years
  • The company is undervalued by P/E LTM multiple compared to target level (4.1x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)5.22
Share price, USD: 0.2811
Common stocks: 258 620 690

Dividend Yield:  0.0%
P/E LTM: 4.1x
Last revenue growth (y/y):  -6.9%
Last growth of Net Income (y/y):  -27.3%
Historical revenue growth:  +6.5%
Historical growth of Net Income:  +122.3%
Target P/E (hist percentile):
Fundamental value created in LTM:
P/E mutiple calculation
Market Cap ($m): 73
Net Profit ($m): 18
P/E LTM: 4.1x
Price to Book: 0.56x

Revenue and Net Income

Semi-Annual values ($m)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

P / E

Potential dynamics

More information for subscribed users:
detailed calculation of
Potential and Created Value,
website traffic data

Releases

2022-08-12
Further Update on Offer by Heriot to Safari Shareholders
2022-07-29
Further update on offer by Heriot to Safari shareholders
2022-07-01
Update on Offer by Heriot Properties to Specified Safari Shareholders
2022-06-22
Annual Results Presentation
2022-06-22
Trading Statement
2022-06-07
Safari's Initial Response to Firm Intention Announcement by Heriot Properties Proprietary Limited
2022-06-06
Cautionary Announcement
2022-04-01
Dealing in Shares by an Associate of a Director
2022-03-31
Dealing in Shares by an Associate of a Director
2022-03-31
Pre-Close Operational Update
2022-03-30
Dealing in Shares by an Associate of a Director
2022-03-30
Dealings in Shares by an Associate of a Director
2022-03-03
Approval of the Joint Merger Filing by Heriot Properties Proprietary Limited and Safari
2022-02-15
Broad-Based Black Economic Empowerment Act (“The Act”): Annual Compliance Report
2021-12-20
Dealing In Shares By An Associate Of A Director
2021-12-08
Joint Merger Filing by Heriot Properties Proprietary Limited and Safari
2021-12-02
Revised Dividend Dates
2021-11-19
Condensed Consolidated Unaudited Interim Financial Results and Interim Dividend Distribution Declaration for the Six
2021-11-17
Trading Statement

SENS Announcements

2024-03-07
Dealings in shares by associates of a director
2024-02-28
Dealings in shares by an associate of a director
2024-01-30
Dealings in shares by an associate of a director
2023-11-16
Interim financial results and interim dividend distribution declaration for the period ended 30 September 2023
2023-11-07
Annual compliance report prepared in terms of the Broad-Based Black Economic Empowerment Act
2023-10-24
Results of the Annual General Meeting (“AGM”) and Change to the Board of Directors
2023-09-27
Disclosure of Transfer of Securities
2023-07-24
Change of sponsor
2023-07-06
Dealing in shares by an associate of a director
2023-06-30
Dealings in shares by associates of a director
2023-06-29
Abridged Audited AFS, Dividend Declaration, Distribution of IAR and Notice of AGM For The Year Ended 31 March 2023
2023-06-01
Change of Financial Year End
2023-04-26
Disclosure of acquisition and disposal of securities
2023-04-20
Finalisation announcement in respect of the repurchase of the repurchase shares
2023-04-03
Dealings in shares by associates of a director
2023-03-31
Results of the general meeting
2023-03-16
Dealing in shares by an associate of a director
2023-03-15
Dealing in shares by an associate of a director
2023-03-01
Distribution of circular and notice of general meeting by Safari in respect of a proposed repurchase of shares
2023-02-22
Firm intention announcement by Safari in respect of a proposed specific repurchase of shares
2023-01-31
Disclosure of acquisition and disposal of securities
2022-11-28
Disclosure of acquisition of securities
2022-11-24
Interim Financial Results and Interim Dividend Distribution Declaration for the Period Ended 30 September 2022
2022-11-22
Disclosure of acquisition of securities
2022-11-22
Distribution of Circular
2022-11-15
Trading Statement
2022-11-10
Extension of the timeline for the posting of the response circular
2022-10-13
Repurchase of South Palace Capital Proprietary Limited Shares
2022-09-30
Further Update on Offer by Heriot to Safari Shareholders and Continuation of Cautionary Announcement
2022-09-23
Broad-Based Black Economic Empowerment Act (“the Act”): Annual compliance report
2022-09-02
Further Update on Offer by Heriot to Safari Shareholders
2022-08-18
Results of the annual general meeting
2022-08-12
Further Update on Offer by Heriot to Safari Shareholders
2022-07-29
Further update on offer by Heriot to Safari shareholders
2022-07-01
Update on Offer by Heriot Properties to Specified Safari Shareholders
2022-06-29
Condensed Audited Annual Financial Results, Dividend Distribution Declaration And Notice of AGM
2022-06-22
Annual Results Presentation
2022-06-22
Trading Statement
2022-06-07
Safari's Initial Response to Firm Intention Announcement by Heriot Properties Proprietary Limited
2022-06-06
Cautionary Announcement