Retail park specialist Pillar Property, which last month promised to give money back to its shareholders, has announced a 47% rise in pretax profits to £10m for the six months to September 30.
The company has also seen a 23% rise in rental income from £17.9m last year to £22m.
According to chairman Raymond Mould, Pillar will continue to concentrate on retail parks, despite a lack of available opportunities: “We remain convinced that large, prime retail parks will continue to demonstrate above-average investment performance. But parks with the right characteristics at the right price are proving difficult to find.”
