13th Feb 2015 09:32
LONDON (Alliance News) - Alpha Real Trust Ltd said Friday its adjusted earnings per share for the nine months to end-December 2014 was 5.3 pence, compared to 3.5 pence a year before.
It did not detail how earnings per share are adjusted.
The investment company said its net asset value per share has rose to 109.1 pence, compared to 108.3 pence at the end of September last year.
During the period the company sold a non-core investment for GBP2.7 million, which it will reinvest opportunities across the "asset-backed spectrum that offer high risk-adjusted total returns". Last November the company extended its loan facility to European Property Investment Portfolio PLC for two years, and provided a new mezzanine loan facility of GBP10.3 million to Active UK Real Estate Fund PLC.
Alpha Real said that investor outlook in the real estate market across many European countries "remains cautiously optimistic". It cited recovery in the UK real estate market and improving sentiment in the Spanish real estate market.
"The company continues to see encouraging performance in its underlying investments and remains well positioned to capitalise on new opportunities across asset backed investment and debt markets in the UK and Europe," the company said in a statement.
Shares in Alpha Real are trading up 4.8% at 60.00 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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