LONDON (dpa-AFX) - Derwent London plc (DLN.L) reported Tuesday that its fiscal 2019 profit before tax rose to 280.6 million pounds from last year's 221.6 million pounds. Earnings per share increased to 253.11 pence from 198.91 pence last year.
EPRA earnings declined to 103.1 pence per share from 113.1 pence per share last year. Underlying earnings were 103.1 pence per share, up 4.0 percent from 99.1 pence last year.
Gross property and other income grew to 230.3 million pounds from 228.0 million pounds last year. Net property and other income declined to 182.6 million pounds from 185.9 million pounds a year ago.
Further, the company proposed raising the final dividend by 10.1 percent to 51.45 pence per share, taking the full year's dividend to 72.45 pence per share, an increase of 10.0 percent.
For fiscal 2020, the company projects stronger ERV growth of +1 percent to +4 percent, with property investment yields to tighten. The company sees a more confident outlook for London offices following the 2019 General Election, despite global uncertainties.
Copyright RTT News/dpa-AFX