LONDON (dpa-AFX) - Great Portland Estates (GPOR.L) on Friday reported profit before tax of 62.3 million pounds for the first six months ended 30 September 2021 compared with loss before tax of 154.8 million pounds in the same period a year ago.
Profit for the period was 62.2 million pounds or 24.6p per share compared with loss of 154.8 million pounds or 61.2p per share last year.
The company had surplus from investment property of 26.6 million pounds during the latest 6-month period compared with deficit from investment property of 114.3 million pounds last year.
EPRA earnings per share declined to 7.4p from 8.2p in the prior year.
The company posted revenue of 42.2 million pounds during the first six-month period, slightly lower than 42.4 million pounds reported last year.
Expected credit losses declined to 3.1 million pounds from 3.7 million pounds a year ago.
For the full-year, the company has raised its guidance for rental values to the range of 2%-5% increase.
The Board declared an interim dividend of 4.7p per share, to be paid on 5 January 2022, to shareholders on the register on 3 December 2021.
'With our portfolio that is full of opportunity, including a circa £900 million near-term development programme, our strong balance sheet with plentiful liquidity and our motivated and engaged team, we have the ability to capitalise on London's recovery. GPE is in great shape and we look to our future with confidence,' commented Toby Courtauld, Chief Executive.
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