SLOUGH (dpa-AFX) - SEGRO (SGRO.L), a U.K. based Real Estate Investment Trust that owns, manages and develops modern warehouses and industrial property, on Thursday declared results for the half-year ended 30 June 2021, that showed Profit before Tax increase by close to 90 percent primarily due to sharp increase in realised and unrealised property gains.
Profit before tax was 1.4 billion pounds as compared to 221 million pounds in the half year ended June 30, 2020.
Adjusted profit before tax was 168 million pounds as compared to 141 million pounds in the year-ago half year, registering an increase of 19 percent, primarily driven by a 26-million-pound increase in net rental income.
Profit after tax attributable to equity shareholders was 1.3 billion pounds, and 110.0 pence per share as compared to 216 million pounds and 19.4 pence per share in the year-ago period. Adjusted Profit after tax was 165 million pounds as compared to the level of 139 million pounds in the corresponding half year of the previous financial year.
Adjusted Earnings per share was 13.8 pence as compared to 12.5 pence in the corresponding prior period. IFRS NAV per share was 896 pence versus 716 pence at the end of June 2020.
Adjusted NAV per share increased by 12 per cent to 909 pence compared to December 2020, primarily driven by the valuation uplift on the property portfolio. Revenue for the period was 246 million pounds as compared to 198 million pounds in the prior period, registering a growth of 24 percent.
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