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Wynnstay Properties PLC on Tuesday reported higher rental income and net asset value for the first half of its financial year, though pretax profit declined slightly due to higher property costs, as the company lifted its interim dividend. The London-based property investment and development company, which owns and manages a portfolio of office, retail, warehouse and industrial properties, said rental income for the six months to September 29 rose 2.8% year-on-year to £1.41 million from £1.38 million, supported by higher rents on lease renewals and new lettings, as well as income from its recently acquired site at Waterbeach, Cambridge. Pretax profit fell 5.5% to £779,000 from £824,000, reflecting increased portfolio costs of £98,000, compared with £39,000 a year earlier, linked to refurbishment spending and lease renegotiations. Net asset value per share increased 2.7% to 1,173 pence from 1,142p, while earnings per share eased slightly to 21.6p from 21.9p. In light of the results, the board declared an interim dividend of 10.5p per share, up 5.0% from 10.0p last year, payable on December 15 to shareholders on record as of November 14. The company said it continues to focus on improving energy performance across its portfolio and remains proactive in its refinancing discussions with Handelsbanken ahead of the December 2026 loan maturity. Collins said the second half of the year had started well and that Wynnstay anticipates ‘a satisfactory outcome to the financial year’ in the absence of unforeseen events. Shares in Wynnstay were down 2.4% at 810.00 pence in London on Tuesday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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