The bulk of Bradford’s increased profits are from trading, up to £8.5m from £5.3m. Net rental income increased from £3m (£2.6m), while £401,000 (£259,000) of profit from sales of investment properties was also included above the line. The company’s traditional line of business is holding tenanted residential property and selling it as it becomes vacant. Since the half-year end, Bradford has bought two more residential property investment companies, BG Utting & Co and Gracefield Properties. These were valued by Bradford’s directors at £5.37m and financed by the issue of 767,250 BPT shares.
The bulk of Bradford’s increased profits are from trading, up to £8.5m from £5.3m. Net rental income increased from £3m (£2.6m), while £401,000 (£259,000) of profit from sales of investment properties was also included above the line. The company’s traditional line of business is holding tenanted residential property and selling it as it becomes vacant. Since the half-year end, Bradford has bought two more residential property investment companies, BG Utting & Co and Gracefield Properties. These were valued by Bradford’s directors at £5.37m and financed by the issue of 767,250 BPT shares.
