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Higher interim profits at Daejan Holdings
StockMarketWire.com
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Daejan Holdings made a profit before tax for the six months to September 30 2012 of £23.3m (2011: £0.1m loss).
This was after accounting for net valuation gains on investment properties of £11.4m (2011: £0.8m loss) and valuation losses on financial instruments of £3.0m (2011: £9.7m).
There was an increase of 3.5% in gross rental income and a reduction of 4% in property operating expenses compared to the equivalent period last year. The underlying net profit before tax, i.e. excluding net valuation movements, was £14.9m (2011: £10.4m).
An interim dividend of 25p per share is to be paid.
At 11:19am: (LON:DJAN) Daejan Holdings share price was +4p at 2807p
Story provided by StockMarketWire.com
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