Picton has delivered a solid set of half-year results, its first since converting to a REIT at the start of last month.
The company delivered a total return of 3.9% and its EPRA NAV per share rose by 2% to 92p during the half-year to 30 September. The value of its portfolio was virtually unchanged, down by £800,000 to £638m.
Chairman Nicholas Thompson said: “Clearly the coming months are important in terms of the Brexit negotiations and our future relationship with the EU and more widely in terms of global trade. Despite the recent uncertainty, the UK economy has been reasonably resilient, as have the fortunes of the property market, and we remain cautiously optimistic. However, we believe it is right to be prudent in the short term until we have greater clarity.
“For many of our occupiers it appears that it is business as usual and, as such, we will continue working towards meeting our strategic aims and deliver value for our shareholders.”
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