Schroder Real Estate Investment profit falls on lower revaluation gains

Tue, 26th Nov 2019

Schroder Real Estate Investment Trust booked a lower first-half profit, owing to lower valuation gains on investment properties. Net profit for the six months through September fell to £4.6m, down from £10.6m on-year. The company's net asset value total return, including dividends paid, rose 0.5%. It declared an interim dividend of 0.65p per share. 'This has been another busy period for the company with a focus on activity that has improved shareholder total returns and strengthened the balance sheet,' chairman Lorraine Baldry said. 'This should support future returns during a period of greater market uncertainty.' 'Whilst the disposals of lower yielding assets will result in a temporary decline in net income prior to reinvestment, the board is comfortable with this approach as the company has approximately £90m of funding to take advantage of more attractively priced investment opportunities supporting the delivery of a fully covered, sustainable and growing dividend policy.' At 9:53am: (LON:SREI) Schroder Real Estate IT share price was +1.05p at 54.45p Story provided by StockMarketWire.com

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