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.
Schroder Real Estate Investment Trust booked a lower first-half profit, owing to lower valuation gains on investment properties.
Net profit for the six months through September fell to £4.6m, down from £10.6m on-year.
The company's net asset value total return, including dividends paid, rose 0.5%. It declared an interim dividend of 0.65p per share.
'This has been another busy period for the company with a focus on activity that has improved shareholder total returns and strengthened the balance sheet,' chairman Lorraine Baldry said.
'This should support future returns during a period of greater market uncertainty.'
'Whilst the disposals of lower yielding assets will result in a temporary decline in net income prior to reinvestment, the board is comfortable with this approach as the company has approximately £90m of funding to take advantage of more attractively priced investment opportunities supporting the delivery of a fully covered, sustainable and growing dividend policy.'
At 9:53am: (LON:SREI) Schroder Real Estate IT share price was +1.05p at 54.45p