Highlights:
Income growth underpins strong financial results and supports an increased dividend, with further improvements expected in H2
Adjusted Profits up 6.6% to £14.5 million (June 2016: £13.6 million) setting the business on track for its fourth consecutive year of Adjusted Profit growth
IFRS Profit for the period of £12.1 million (June 2016: Loss of £4.4 million)
Like-for-like Net Rental Income up 0.5% despite the loss of H1 2016 BHS income, up 4.4%, once adjusted for this
34 new lettings and renewals achieved at an average 21%3 premium to previous rents and an 8.4% premium to ERV. Passing rent up 1.7% on a like-for-like basis
Full period benefit of Ilford acquisition, and timing of Camberley sale in November 2016, will strengthen comparative second half year-on-year performance
Enhanced focus on cost efficiencies targeting annualised savings of at least c £1.8 million by 2018
Interim dividend increased by 6.8% to 1.73p per share (June 2016: 1.62p). Second half improvements underpin target for total Full Year 2017 dividend at top end of the stated 5% to 8% per annum growth range
