Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Germany-focused real estate investor Summit Properties booked an improved underlying performance in the first half after it lifted its rental income.
The company's net asset value for the six months through June rose 5.6% to €825.7m.
Pre-tax profit including exceptional items like changes in property valuations fell to €56.3m, down from €102.1m.
Gross profit, however, rose to €39.5m, up from €29.1m, as rental income jumped 29% to €40.5m.
Summit Properties declared an interim dividend of 0.5c per share and said it planned to declare a further interim dividend of 0.5c per share in 2019.
In addition, and following completion of the sale of an office building, it would to declare a further interim dividend of 1.0c per share.
'I'm pleased with the portfolio performance, which benefited again from our experienced property and asset management platform,' chairman Harry Hyman said.
'The outlook for Germany's commercial property markets remains positive and I'm confident that we will continue to generate attractive income and capital returns for our shareholders.'
At 8:26am: (LON:SMTP) share price was +0.01p at 1.23p