Property investor Picton has announced a dip in rental income and income profit after tax for the half-year to 30 September.
Rental income stood at £15.6m over the period, compared with £16.2m for the same period in 2012 and £32.1m for the year to 31 March 2013.
Income profit after tax dipped from £6.9m in the half-year to 30 September 2012 to £6.3m for the six months to 30 September 2013.
Total dividends per share also decreased from 2p in the period last year to 1.5p this year
£6.3m of new equity was raised in September 2013, while net asset value increased to £180.3m from £169.4m in March 2013.
Chief executive Michael Morris said: “We have worked hard during the last six months to drive occupancy and complete asset management initiatives, which have contributed positively to underlying value enhancement. In some instances, these have also enhanced income and created future potential within the portfolio.
“We will continue with this approach and our focus remains on income and value growth within the portfolio. We will achieve this through understanding and working with our occupiers and identifying opportunities that exist within the portfolio and more widely within the UK market.”
chris.berkin@estatesgazette.com
