LONDON (dpa-AFX) - Real estate investment trust Derwent London Plc (DLN.L) posted a full-year 2011 profit before tax of 233 million pounds, lower than 352.8 million pounds in the previous year.
On a per share basis, earnings were 217.67 pence, down from 337.47 pence per share in the prior year.
Meanwhile, total income for the year increased to 127.5 million pounds from 121.1 million pounds a year ago. Net property income was 117.7 million pounds, compared to 113 million pounds in the preceding year.
John Burns, Chief Executive Officer of the company said, '2011 has been another strong year for Derwent London. The robust leasing activity we experienced in the first half of the year has continued throughout 2011 and into 2012 and we are confident that the quality and distinctive space in our portfolio will continue to attract a diverse mix of tenants.'
Looking ahead, the company believes it is well positioned to deliver good returns both in the tough environment it currently faces and when more sustained economic growth appears.
The board has also proposed a final dividend of 21.9 pence per share, to shareholders of record on May 18, 2012, payable on June 15. The total dividend for the year will be 31.35 pence, an increase of 8.1 percent from last year.
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© 2012 AFX News
