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UK Comm. Property's H1 pretax profit falls

18 August 2016 07:44

UK Commercial Property's H1 pretax profit has fallen to £27.3m, from £44.5m. Total income was £38.4m, from £64.4m.

"In a year which has so far been dominated by the political and economic uncertainty of the EU Referendum, UKCPT delivered a creditable performance in the first six months of 2016," said chairman Andrew Wilson.

"UK commercial real estate continues to provide a significant yield premium to other assets and, with lower gearing levels, higher occupancy rates and muted levels of new supply, the asset class should remain resilient.

"Furthermore, and whilst it is too early to point to any definitive trends post referendum, we have seen occupier demand in our own portfolio remain stable in most sectors."

Net asset value per share was at 86.5p on June 30, from 86.7p on Dec. 31, 2015. Dividend per ordinary share was 1.84p, unchanged.

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