CLS Holdings’ net asset value per share rose by 9.3% to 2,685p in the six months to 30 June 2017.
Its basic net asset value per share increased by 18.8% to 2,151p and its profit after tax was £100m, up dramatically from the £29.7m it posted for the same period last year.
Underpinning the rise was a property valuation uplift of £48.7m, compared with £2.4m in the previous year, as well as profit on sales of £41.7m.
Key disposals included the £144.1m sale of Vauxhall Square, SW8.
Henry Koltz, chairman, said: “The first half of 2017 has been transformative. We crystallised the value our team created at the Vauxhall Square scheme and, through our recent investments in Germany, we have begun to redeploy the capital in properties with good asset management opportunities, thereby rebalancing the portfolio.
“Notwithstanding early signs of weakness in the UK property market, we are well positioned for future growth, with a high-quality portfolio across the three largest European economies, a low vacancy rate with good tenants and a strong balance sheet.”
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