Derwent London chief executive John Burns said he sees “scant evidence” of a slowdown as the company unveiled a 28.4% NAV increase to 2,908p per share in 2014, outperforming the buoyant London market.
The fringe specialist achieved total returns of 30.1% in 2014, up from 21.9% last year, alongside a 5.8% increase in rental income over the year to £128.7m.
Some £9.2m of new lettings were secured during the year.
The company’s pretax profit rose by 7.8% to £62.3m, while earnings per share rose by 6% to 57.08p. Burns said he expected to see rental growth maintained at 6-8% across the portfolio in 2015, with investment yields holding firm.
