16th May 2014 11:51
LONDON (Alliance News) - Ground Rents Income Fund PLC Friday reported pretax profit of GBP1.9 million for the six months ended March 31, compared with a GBP1.1 million loss for the period April 23, 2012 to March 31, 2013.
The company said its net asset value per share rose to 101.8 pence at March 31, from 97.5 pence at September 30. It had net assets worth GBP48.98 million at the period-end compared with GBP48.0 million at September 30.
Ground Rents said interim dividends and preference share dividends for the half-year totalled 2.098 pence and 1 pence per share, respectively.
Since the period-end, further interim dividends and preference share dividends of 0.6 pence and 0.3 pence respectively have been declared covering the period up to May 24.
"We continue to focus on full investment in the sector in a timely, yet controlled manner, but are conscious of the prevailing market conditions, where asset values are rising and, conversely, yields are falling," Chairman Malcolm Naish said in a statement.
Ground Rents shares were quoted down 0.2% at 103.42 pence Friday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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