LONDON (dpa-AFX) - TR Property Investment Trust Plc (TRY.L), a British investment trust focused on investments in the property sector, on Thursday returned to profit for the first-half, particularly reflecting a gain on investments.
Kate Bolsover, Chairman, said: 'Generalist investors have avoided real estate over the last 18 months. This has given our managers the opportunity to select carefully not only companies with the best underlying exposures but also those with the most robust balance sheets. The sector M&A activity we have benefited from is a testament to this strategy - and may well be a portent of better times ahead.'
For the six-month period to September 30, the company registered a pre-tax profit from operations of 31.083 million pounds, compared with a loss of 517.603 million pounds, recorded for the same period last year.
Total comprehensive income stood at 30.011 million pounds or 9.45 pence per share as against last year's loss of 520.016 million pounds or 163.86 pence per share.
Gain on investments held at fair value was 16.374 million pounds, compared with a loss of 616.054 million pounds.
Total income stood at 43.977 million pounds, compared with a loss of 510.795 million pounds.
The company will pay an interim dividend of 5.65 pence per share, unchanged from last year's interim dividend of 5.65 pence per share. It will be paid on January 11, 2024 to shareholders of record on December 15, 2023.
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