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Warehouse REIT profit jumps; holds dividend steady
StockMarketWire.com
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Warehouse property investor Warehouse REIT posted a large rise in annual profit, driven by increases in the value of its assets and higher rental income.
Pre-tax profit for the year through March jumped to £123.1 million, up from £20.7 million year-on-year, and included a £105.0 million fair value gain on investment properties.
Revenue rose to £35.8 million, up from £30.1 million and the company held its dividend steady at 6.2p per share.
'This was an important year in the group's development, during which we raised nearly £200 million through well-supported equity issues,' chairman Neil Kirton said.
'We have made excellent progress with deploying this capital, while maintaining our strong capital discipline.'
'We also continue to add value through active asset management and look forward to delivering for shareholders and our wider stakeholders in the coming year.'
At 8:03am: (LON:WHR) Warehouse Reit PLC share price was 0p at 114p
Story provided by StockMarketWire.com
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