FINANCE: SEGRO has posted a 6.7% rise in EPRA net asset value per share for the six months to 30 June.
The industrial specialist recorded NAV per share of 333p, compared with 312p as at 31 December 2013.
During the half year to 30 June, SEGRO said EPRA pretax profit reached £66.7m, down from £69m in the same period last year. IFRS pretax profit increased to £226.5m from £20.3m.
Turnover dropped during the same period to £137.6m from £168.4m.
Activity in the half year included £224m spent on warehouses and land, and £95m of disposals. Net debt, including shares of debt in joint ventures, rose to £2.1bn from £1.9bn.
The company has proposed an interim dividend of 4.9p a share, unchanged from last year.
David Sleath, chief executive of SEGRO, said: “Our strategy is delivering tangible results, and against a background of market conditions which we expect to remain supportive for some time to come, we are well placed to make further progress over the remainder of the year.”
joanna.bourke@estatesgazette.com
