Daejan Holdings sees net rental income in line with expectations in Q1

22nd Sep 2014 07:41

Property investment firm Daejan Holdings registered net rental income in line with management´s expectations in the UK and US from 1 April to 30 June. The company further informed investors in an interim management statement that the whole of the refurbished Africa House in Kingsway London WC2 was let to a single tenant in July. Furthermore, a contested rent review of the Strand Palace Hotel was resolved.As a result of those two events rental income in the current half year will see a one-off benefit of some 8m pounds, alongside a similar increase in its annual rent roll.At the time of the interim statement, the board was not aware of any other items which might have a material impact on its financial position for the period in question.The final dividend of 47p per share, which was approved by shareholders on 11 September, will be paid on 14 November.Other than the matters described above the board was not aware of any material events during the period from 1 April to the date of this statement which would have a material impact on the financial position of the company.