Workspace shrinks H1 losses

16th Nov 2009 08:19

Small business landlord Workspace said it narrowed half year pre-tax losses as occupancy rates and lettings rose.Pre-tax loss shrunk to £39.3m for the half year ended 30 September 2009 from a loss of £128.5m the same time a year before. Like-for-like occupancy rose 0.8% to 84% and overall occupancy increased 1.6% at 81.9%.Commenting on the results chief executive Harry Platt said, "At an operational level, Workspace continues to perform well. Enquiries and occupancy have both moved ahead during the period. This is despite what has been the worst recession of modern times".He added, "Our property values have fallen a little during the half year. However, there are signs now in both the occupational and investment markets that values have at least stabilised." The interim dividend has been maintained at 0.25p per share.