27th Jan 2016 09:56
LONDON (Alliance News) - Ediston Property Investment Co PLC said on Wednesday it was pleased with the progress it had made in its maiden full year since its launch.
In a statement, the company said its net asset value was 106.29 pence per share for the year ended September 30, up 8.6% from its initial value at its launch in October 2014. It said it had risen further since September, and in December its net asset value was 107.92 pence per share, an increase of 1.3%, despite having incurred costs from a recent acquisition.
The company reported a pre-tax profit of GBP12.9 million for the period, and said it had acquired 11 properties since October 2014.
"The board is pleased with the progress made in the company's maiden year having delivered on the objectives set at flotation. It believes a good platform has been established to move ahead with some optimism," Chief Executive William Hill said.
Ediston Property shares were up 1.2% at 105 pence on Wednesday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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