2nd Dec 2016 16:15
LONDON (Alliance News) - Urban&Civic PLC Friday said Chief Executive Officer Nigel Hugill bought shares as the property investor said its annual pretax profit almost quadrupled year-on-year.
Hugill bought 24,440 shares at a price of 204.55 pence per share on Thursday.
Urban&Civic on Friday said its pretax profit for the year ended September 30 was GBP25.9 million, up from GBP7.0 million a year earlier, as its revenue increased 72% to GBP95.2 million from GBP55.5 million.
Urban&Civic benefited from a surplus on the revaluation of its investment properties of GBP20.5 million, up from GBP8.1 million a year earlier, and recorded GBP18.9 million profit on trading property sales, up from GBP3.2 million a year earlier.
The stock was up 6.6% at 207.62p Friday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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