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Circle Property profit plunged in the first half of the year as losses on investment properties hurt growth.
For the six months to 30 September 2019, pre-tax fell to £1.11m from £13.7m on-year and rental income rose to £3.3m from £3.1m.
The company reported a £390.3K loss on the revaluation of its investment properties, compared with a gain of £11.73m on-year.
The company's net asset value per share was up to £2.78 from £2.75 at the end of September.
The interim dividend was raised by 10% to 3.3p a share.
'In the six months ended 30 September and post period end, we have been investing in the pipeline, increasing our rental growth and we are on track to deliver expectations for the full year,' Circle Property said.