31st Aug 2018 17:39
LONDON (Alliance News) - TOC Property Backed Lending Trust PLC on Friday said its net asset value decreased in the first half of its financial 2018 hurt by a slowdown in sales volumes.
Net asset value per share declined marginally in the six months to the end of May to 97.57 pence from 98.11p reported at the end of November last year.
The company said it paid its second quarterly dividend of 1.75p during the period, in line with the 7.0p annual dividend target.
The stock closed untraded on Friday, last quoted at 100.20p per share.
Pretax profit declined to GBP684,000 in the first-half compared to GBP913,000 reported the year before, as investment interest income fell to GBP923,000 from GBP1.4 million.
Looking forward, the company said it continues to monitor the impact of slowing sales volumes on its investment strategy, and is seeing a wide variation in the speed and level of property movements around the country.
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