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Interim Results

Hansteen pre-tax profits jump

23 August 2017 07:37

Hansteen Holdings' IFRS pre-tax profit increased by 185.6% to a record £156.5 million in the six months to the end of June.

Normalised income profit increased by 25.9% to £38.9m and normalised total profit rose by 172.0% to £88.4m.

EPRA NAV per share increased by 2.8% to 132.5p (31 December 2016: 128.9p)

IFRS NAV per share increased by 6.9% to 132.5p (31 December 2016: 124.0p)

The group said the November interim dividend would be increased by 4.5% to 2.3p per share (November 2016: 2.2p per share).

Chairman Melvyn Egglenton said: "After an extremely busy and successful period, with completion of the sale of the German and Dutch portfolio for €1.28bn, the acquisition of Industrial Multi Property Trust and the settlement of €100 million of convertible bonds, it is very pleasing to report record profits and Net Asset Value.

"Looking forward, following the proposed Return to Shareholders, our projections indicate that there is scope to increase dividends, on a fully covered basis, compared to the historic levels."

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