27th Nov 2020 18:28
Real Estate Credit Investments Ltd - specialist investor in European real estate credit markets - Net asset value per share rises slightly in half-year to GBP1.48 as at September 30 from GBP1.47 on March 31. Interim net profit rises to GBP15.5 million from GBP11.6 million the year prior as interest income rises to GBP13.5 million from GBP12.5 million and net gains on financial assets and liabilities at fair value through profit or loss more than doubles to GBP6.1 million from GBP2.6 million. Maintains quarterly 3 pence per share dividend.
Chair Bob Cowdell: "The [Real Estate Credit Investments] portfolio is defensively positioned and the Cheyne origination team are ready to take advantage of potential market volatility and selectively invest in opportunities in the UK and Europe, so that RECI can continue to deliver attractive returns for our shareholders."
Current stock price: 134.50p
Year-to-date change: down 20%
By Anna Farley; [email protected]
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