Buoyant property market helps REI to strong H1
The Midlands’ buoyant commercial property market has helped Birmingham-based Real Estate Investors to enjoy a strong first half.
For the six months ended June 30, 2017, the value of the company’s property assets increased by 3.7% to £209.4m (H1 2016: £201.9m), while the EPRA (European Public Real Estates Association) net asset value per share increased by 2.1% to 67.6p (FY 2016: 66.2p).
Revenue was up almost 20% to £7.1m (H1 2016: £6m), with underlying pre-tax profit at £3.1m (H1 2016: £2.4m), an increase of 29.2%.
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