30th Jul 2015 10:30
LONDON (Alliance News) - Real estate investment trust Highcroft Investments PLC on Thursday said its net asset value per share increased in the first half of 2015, though it saw a divergence in its gross and net rental income in the period.
Highcroft said its net asset value per share was up to 965 pence at the end of June, up from 886 pence a year earlier and from 923 pence at the end of December. The group's property portfolio is now valued at GBP57 million, up from GBP40 million.
The company's gross rental income rose by 7% to GBP1.6 million in the half, up from GBP1.5 million, but its net rental income was broadly flat at GBP1.4 million, due to the net rental income it forewent in the half related to the sale of its Bristol property and its Beckenham property.
It will pay an interim property income distribution of 14.30 pence per share, up from 13.25 pence.
Highcroft shares were untraded on Thursday, having last traded at 1,029.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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