18th Aug 2015 07:33
LONDON (Alliance News) - Investment company Alpha Real Trust Ltd Tuesday said its net asset value per share fell slightly in the quarter to end-June to 113.0 pence from 113.2 pence at the end of March.
For the quarter to end-June the trust proposed a dividend of 0.6 pence for the quarter.
Alpha Real Trust invests in real estate operating companies, securities, services and other related business. It is currently focused on high-yielding property debt and equity investments in Western Europe.
The trust said the quarter had been a "highly active period", as it invested GBP2.1 million to buy Unity and Armouries, a central Birmingham development site.
The H20 shopping centre investment in Madrid attracted a higher number of visitors, which the the company said reflects the asset management improvements it has implemented under its ownership, including an improved commercial mix and upgraded public areas, boosted by a general underlying improvement in the Spanish economic environment.
It said that it had sold a number of its non-core investments, which has allowed capital to be recycled. It will continue to seek new opportunities, and said its investment in Unity and Armouries demonstrates its ability to secure new investments and to capitalise on investment segments that are overlooked by many mainstream peers.
"The company is actively sourcing and analysing new investment opportunities and has the agility and financial reserves to capitalise on those that meet its investment criteria. Improving earnings and enhanced cash reserves position the company for continued progress in the year ahead," the trust said in a statement.
Shares in Alpha Real Trust were up 2.6% at 80.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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