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CLS NAV up on portfolio gains
5th Mar 2020 09:58
(Sharecast News) - Office landlord CLS Holdings said annual net asset rose driven by acquisitions, higher income and portfolio gains.
Basic NAV rose 7.1% to 295p a share as pre-tax profits rose to ?159m from ?144.9m. EPRA net asset value rose 6.3% to 329.2p a share.
A final dividend of 5.05p a share was declared for a total of 7.4p, up 7.2%.
The company realised a ?40m gain on the sale of its bond portfolio and its stake in Swedish logistics property firm Catena.
Net rental income increased 3.1% to ?110.6m, driven by higher rental values and new acquisitions in the UK, France and Germany.
The company's property portfolio was valued at ?1.97bn, up from ?1.77bn a year earlier.
Basic NAV rose 7.1% to 295p a share as pre-tax profits rose to ?159m from ?144.9m. EPRA net asset value rose 6.3% to 329.2p a share.
A final dividend of 5.05p a share was declared for a total of 7.4p, up 7.2%.
The company realised a ?40m gain on the sale of its bond portfolio and its stake in Swedish logistics property firm Catena.
Net rental income increased 3.1% to ?110.6m, driven by higher rental values and new acquisitions in the UK, France and Germany.
The company's property portfolio was valued at ?1.97bn, up from ?1.77bn a year earlier.