Raglan Property Trust, a survivor from the collapse of the property market in 1974, continues to make progress. Profits before tax for the six months to September 30 1986 were £239,130 against £122,301 — an increase of 96%.
Turnover was up from £4.5m to £4.7m and earnings per share rose from 0.05p to 0.13p. The effects of the growing investment portfolio have increased assets per share from 7.3p to 7.4p.
Chairman David Anderson said that, subject to the timing of certain contracts: “I am confident that we shall have a successful year.”
Until recently any created investment had to be sold to provide funds for further schemes, but now the company is again building up an investment portfolio and the directors have decided to retain the fully let City of London office property in Widegate Street (seen here).
