14th Nov 2019 11:36
(Alliance News) - Wynnstay Properties PLC said Thursday its interim profit rose sharply on higher property income and gains made on asset disposals.
For the six months ended September 29, the property investor said pretax profit rose by 82% to GBP1.1 million from GBP588,000, due to the sale of two properties in its portfolio, that delivered profits on sale of GBP440,000, compared to no such sales a year before.
Wynnstay said its portfolio is 94% let and has collected all rental income due for its current quarter.
Property income grew by 11% to GBP1.2 million from GBP1.1. million the prior year, as net asset value per share as at September 29 rose by 8.9% to 830 pence from 760p.
Wynnstay increased its interim payout to 7.5 pence, up from 7.1% from 7.0p the year before.
Shares in Wynnstay Properties - which is headquartered in London - were down 2.3% at 556.75 pence on Thursday.
By Dayo Laniyan; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Wynnstay Props.