Schroder Real Estate Investment Trust’s latest six month results showed earnings per share of 1.2p, an increase of 9% on the previous year.
Net asset value for the six months ending 30 September was reported at 60.9p, an increase of 5.6% from 31 March.
Pre-tax profits for the same period were £23m, compared to £18.8m in the six months to 31 March and £36m in the six months to 30 September 2014.
Underlying portfolio delivered a total return of 7.5%, outperforming the Investment Property Databank Benchmark Index of 6.8%.
The results come after Schroders bought two assets worth £54.5m at an average yield of 6.8%, funded by a combination of previously raised equity and a £20.5m revolving credit facility.
Net asset value saw a return of 7.8%, down from 16.2% over the same period last year.
Schroders converted to UK REIT status on 1 May, which it reported had reduced the overall burden of taxation and increased net income and overall profitability.
