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Annual Results

Redefine Int'l's FY pretax profit falls

27 October 2016 07:21

Redefine International's FY pretax profit has fallen to £8.6m, from a profit of £84.0m.

Revenue was higher at £89.6m, from £79.7m.

The result was influenced by a loss on investment property revaluation and a change in the fair value of derivative instruments, among other factors.

Dividend per share was 3.2p, from 3.25p. EPRA NACV was 40p from 41p.

"This year marks the tenth anniversary of the Company's listing and the management team has continued to deliver a solid performance in challenging conditions, to create a much stronger Company, portfolio and earnings performance," said chair Greg Clarke.

"Redefine International continues to offer superior distributions relative to its peer group and the resilience of the Company's share price in testing market conditions is reflective of the market's confidence in Redefine International to provide secure income underpinned by a diversified, well-located portfolio of assets with attractive property fundamentals.

"We are looking forward to building on these achievements as we enter our next decade as a public company."

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