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Property investor Highcroft Investments said its annual performance slipped due to lower property valuations.
The company's net asset value per share for the year through June fell 1.0% to 1195p.
Earnings per share sank 61% to 21.9p.
Net rental income, however, increased 13% to £2.7m.
The company declared an interim property income distribution of 21.00p per share, up from from 18.75p on-year.
'Whilst the ongoing property investment environment, in particular the retail sector, is likely to remain challenging for the remainder of the year, we believe that our asset selection criteria have helped to ensure that our current portfolio and tenant mix create a strong base from which to continue to develop our business and generate further shareholder value,' chairman Charles Butler said.
At 2:37pm: (LON:HCFT) Highcroft Inv. share price was 0p at 915p