Value & Indexed Property Income Trust PLC - London-based investment manager for UK commercial properties - In the year ended March 31, pretax profit surges 71% to GBP21.4 million from GBP12.5 million. Rental income climbs slightly to GBP5.6 million from 5.4 million while investment income falls to GBP1.7 million from GBP3.4 million. Net assets at March 31 stand at GBP136.9 million, up from GBP118.1 million at the same time the previous year. Net asset value per share rises to 314.30 pence from 271.10p over the same time frame. Company's total return for the year from its property portfolio was 20.2% compared to 19.6% from the MSCI UK Quarterly Property Index, its comparator index. Portfolio value at March 31 jumps to GBP155.5 million from GBP80.6 million on the same date a year prior. Recommends a final dividend of 3.6p, bringing the total payout to 12.6p, an increase of 2.4% year-on-year.
Current stock price: 270.33 pence
12-month change: up 23%
By Heather Rydings; heatherrydings@alliancenews.com
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