Strong financial performance: increased earnings, dividend and NAV
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EPRA earnings up 12% to £40.4 million or 18.0p (30 June 2016: £36.1 million, 16.3p) |
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Profit before tax £83.9 million or 36.7p basic EPS (30 June 2016: £122.8 million, 48.3p) due to lower level of revaluation surplus as a result of yield compression in 2016 |
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Interim dividend increased 22% to 7.3 pence per share (2016 interim: 6.0 pence). Policy remains to distribute 75% of full year recurring EPRA earnings by way of dividend each year |
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EPRA NAV per share up 4% to 669 pence (31 December 2016: 646 pence) |
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Reduced leverage to 30% LTV with net debt at £696 million (31 December 2016: 34% and £776 million) |
