WYNNSTAY PROPERTIES PLC Alliance News Detail - London Stock Exchange
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[ 19 Nov 2015 11:52 ]
LONDON (Alliance News) - Wynnstay Properties PLC Thursday reported a slight fall in pretax profit for its first half, and upped its interim dividend.
The property development and investment company proposed an interim dividend of 5.0 pence, up 11% from 4.5p the previous year.
Wynnstay reported a pretax profit of GBP405,000 for the half year to September 29, down from GBP436,000 a year before, as a rise in property income to GBP860,000 from GBP808,000 was offset by higher property and administrative costs.
The company's net asset value per share was up 15% during the period to 535 pence from 466 pence.
Wynnstay said its focus for the first half has been on completing the acquisition of the Beaver Industrial Estate in Liphook, Hampshire, and the refurbishment and marketing of two vacant units in Chessington. Additionally it negotiated new leases, lease extensions and lease variations on units in Basingstoke, Colchester, Norwich and St Neots.
Over the second half it will focus on assimilating the Liphook estate into its portfolio and continuing to explore opportunities to add value to the existing portfolio and suitable further acquisitions.
Shares in Wynnstay were untraded Thursday morning. They last closed at 450.00 pence. By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
http://www.londonstockexchange.com/exchange/news/alliance-news/detail/14479339...
18/12/2015
Wynnstay Properties plc issued this content on 2015-11-19 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-18 00:55:22 UTC
Original Document: http://www.wynnstayproperties.co.uk/announcement 19.11.2015.pdf
