|
Regional REIT Ltd - commercial property investor - In six months to June 30 reports pretax loss of £27.1 million, widened from £12.1 million a year prior. Rental and property income falls slightly to £44.2 million from £44.4 million. Property costs rise to £20.4 million from £18.4 million. Administration and another costs narrow however to £4.7 million from £5.3 million. Notes loss from change in fair value of investment properties is £37.9 million compared to loss of £29.5 million. Declares interim dividend of 2.20 pence, cut from 2.85 pence a year ago. Blames ‘persistently high interest rates and poor investor sentiment’ for the disappointing half. Is optimistic, however, as the ‘regional office market has begun to show early signs of reaching an inflection point’. Concurrently, Shore Capital Markets lifts Regional REIT to a ’hold’ rating from ’sell’. Current share price: 126.50 pence 12-month change: down 55% Copyright 2024 Alliance News Ltd. All Rights Reserved.
|
