Ediston posts profits fall
Ediston Property Investment Company has reported a 26% decrease in profit before tax in the six months to 31 March. The REIT’s profit before tax was £4.5m, compared with £6.1m a year before.
Net asset value per share increased by 0.7% to 107.21p. Portfolio value rose by a third to £181.1m, up from £136.4m last year.
Bould joins IPSX board
Rob Bould has taken a non-executive role with new property stock exchange, the London Real Estate Exchange or IPSX. He is a former chief executive of GVA Bilfinger.
Stats up for NewRiver
NewRiver Retail posted a 115% increase in gross income to £60.8m in the 12-month period to 31 March. Profit before tax increased by 76% to £69.5m, compared with £39.5m last year.
Its adjusted profit rose by 125% to £47.1m, compared with £20.9m a year earlier.
Helical Bar posts profit rise
Helical Bar posted a pretax profit rise of 37% to £120.1m for the year to 31 March. Its EPRA net asset value was up by 19.7% to 461p, and total property returns increased by 10% to £170.6m.
Development profits came in at £27.5m, up by 56% on 2015, and net rental income increased by 12% to £43.4m. Total return for the portfolio was 21.7%, driven by capital growth, which increased by 14.9%. London office values increased by 30.8%.
