30th Jun 2016 16:07
LONDON (Alliance News) - Secure Property Development & Investment PLC on Thursday reported a fall in net asset value per share but growth in total NAV in 2015.
The South Eastern European-focused property company said its NAV per share in 2015 fell to EUR0.35 from EUR0.75, principally as a result of dilution created by the issuance of new shares.
Total NAV, however, grew to EUR125 million from EUR67 million following the acquisition of prime real estate with blue chip tenants.
"2015 saw us delivering on our strategy of expanding our portfolio in the South Eastern European region with properties let to blue chip tenants in countries which offer high yields and capital growth," Chief Executive Lambros Anagnostopoulos said in a statement.
"The year witnessed strong shareholder support demonstrated by the EUR8 million open offer in March 2015, a bolstering of our highly competent board, and this, coupled with the significant growth of our solid income producing portfolio, puts us in a strong position to continue this progress in 2016 and beyond," he added.
Shares in the company were untraded on Thursday, last quoted at 15.45 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Secure Prop