Market Tech ups profit, outlines growth plan

24th Jun 2015 08:25

Market Tech upped its pre-tax profit by more than 160%, and said it has ambitious growth plans at the release of its latest 12 month results on Wednesday. The Camden Market landlord posted pre-tax profit of £44.1m, up from £16.9m the year prior.The company posted revenue of £30.1m, up from 18.4m the year before, while earnings per share are now at 16.19p per share.Market Tech said between its initial public offering last December and the end of March it had acquired a total of £99m of property assets.The firm's non-executive chairman Neil Sachdev said in a statement that Market Tech has ambitious growth plans and still intends to list on the main market."By bringing the main Camden Market assets under single-ownership for the first time, I am confident that we can capitalise on evolving retail appetites which, coupled with our attractive real estate portfolio, will create lasting value for shareholders and a lasting legacy for the area," Sachdev said.Shares in Market Tech were up 0.79% at 254p at 8.46 on Wednesday.