LONDON (dpa-AFX) - Derwent London Plc (DLN.L) a REIT firm, on Thursday reported a loss before tax for the first half of the year, compared to a profit last year. However gross rental income increased by 3.9 percent. The company also kept its full year rental value outlook unchanged.
The company reported a loss before tax of 143.1 million pounds, compared to profit of 137.1 million pounds for the same period last year.
EPRA earnings declined 7 percent to 55.6 million pounds or 49.5 pence per share from 59.7 million pounds or 53.2 pence per share in the previous year, on increase in irrecoverable property expenditures.
Net rental income decreased to 90.9 million pounds from 94 million pounds of the prior year.
Gross rental income, however, increased to 105.9 million pounds from 101.9 million pounds last year, on additional income from the occupied offices at Soho Place W1 and The Featherstone Building EC1.
In addition, the company declared an interim dividend 24.5 pence per share, an increase of 2.1 percent, payable on October 13 to shareholders of record on September 8.
Looking ahead to the full year, Derwent London continues to expect an average estimated rental value growth in the range of 0 percent to 3 percent.
Currently, shares of Derwent are trading at 2190.00 pence, up 1.30% on the London Stock Exchange
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