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Mountview Estates PLC said on Thursday its half year profit was up while it declared an increased interim dividend alongside a special dividend.
The London-based property trading firm said its pretax profit for the six months that ended September 30 was £18.2 million, up 17% from £15.6 million a year prior. Revenue was also up 21% to £37.2 million from £30.7 million.
It declared an ‘exceptional’ dividend of 500 pence, including an interim dividend of 250 pence and a further 250 pence as a special dividend. This was unchanged from a year prior, but structured as a 225 pence interim dividend plus a 275 pence special dividend.
Chief Executive Officer Duncan Sinclair said Mountview Estates is ‘better placed than most’ to withstand economic difficulties and prosper, noting it was informed last Thursday the UK Government planned to recover money lost via ‘bureaucratic profligacy’ in its Covid-19 furlough scheme.
Sinclair said the company was obliged to help repay government debt, even though it did not furlough any staff members or reduce numbers. He added the company was determined to protect staff amid inflationary pressures.
Shares in Mountview Estates were up 2.8% to 11,820 pence each in London on Thursday morning.
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