FINANCE: Serviced office provider Workspace Group has posted a 61% hike in pretax profit to £173.7m.
In the six months to 30 September profit rose from £107.8m during the same half in 2013.
During the same period rental income increased by 11.6% to £42.4m and adjusted underlying earnings per share rose by 27% to 8.4p.
EPRA net asset value per share was up by 20% to £5.97 (31 March 2014: £4.96).
At the same time, the company announced a £95m share placing to raise funds for further expansion.
It said it wanted to increase its debt facilities alongside the equity raise to provide further funding for the development pipeline.
Jamie Hopkins, chief executive of Workspace, said: “This has been a great first half of the financial year, with continued strong demand and income growth across the portfolio.”
