The UK’s only Midlands-focused REIT has had a bosting six months, thanks to sales lifting pre-tax profits to £9m.
In H1 of 2020 the AIM-listed Real Estate Investors made a £3.8m loss. However, the uplift was largely due to disposals worth £9.4m, with underlying profits actually down 7% on H1 2020.
Revenues were also down by 6% to £7.7m, while the portfolio’s value dropped to £195.2m from £201.3m.
The REIT, which has a portfolio of 1.53m sq ft of commercial property across the Midlands, is expecting to do well on £7.5m more sales that are in the pipeline.
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