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Workspace Group posts 3.7% NAV rise

Workspace Group has seen its net asset value (NAV) per share rise by 3.7% for the six months ended 30 September.

Its interim dividend rose by 20% to 10.61p

The REIT also posted a 17% boost in net rental income to £54.1m.

However, its profit before tax fell from £123.7m to £101.6m, offset by a lower increase in property valuation and reduced disposal profits.

Chief executive Jamie Hopkins said: “Despite the uncertain political and economic environment, we believe that we have the right strategy – owning and actively managing our assets alongside building direct relationships with customers – and a strong balance sheet to take advantage of opportunities and deliver value for shareholders.

“The 20% increase in the interim dividend we have announced today is a reflection of the strong growth in trading profit and our outlook for the future.”

 

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