Mountview Estates’ profit has increased by 16.7% to £18.2m as earnings per share rose by 30% in the first half of the year.
The pretax profit for H1, off gross profit of £21.3m, puts Mountview on track to exceed last year’s full-year profit of £34.7m.
Mountview’s portfolio value rose marginally to £406m, as £25m of new purchases offset valuation changes.
Chief executive Duncan Sinclair said the company “remains in a strong position to make further purchases and to meet all its regular outgoings”.
However, he added that it was being punished for its success.
“The vote in favour of Brexit was made nearly six-and-a-half years ago. Boris Johnson “got Brexit done” nearly three years ago. We have learnt to live with Covid, although it will never have just gone away. Last Thursday we were told how the government plans to recover the vast sums of money that bureaucratic profligacy spent in trying to help the country through the various economic travails,” he said.
“This company did not furlough any staff, did not reduce staff numbers in any other way and did not take any government assistance. However, as a successful company we are obliged to help repay the government’s debt.”
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