Daejan profits halve but divi inches higher
FTSE 250 property business Daejan more than halved its pre-tax profits for the year ended March 31st but kept investors on side with a total dividend of 76p per share, up 1p on last year's payout.
FTSE 250 property business Daejan more than halved its pre-tax profits for the year ended March 31st but kept investors on side with a total dividend of 76p per share, up 1p on last year's payout.
Pre-tax profit declined from £84.4m to £41.8m, gross rental income for the year came in at £92.96m (2011: £88.6m), total rental and related income from investment property was £107.1m (2011: £102.7m), while property operating expenses rose from £60.7m to £68.0m.
Net valuation gains on investment property plunged from £52.0m to £15.7m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Earnings per share were 221p, compared to 416p the previous year, while equity shareholder's funds per share were 5,290p, compared to 5,143p in 2011.
Cash and cash equivalents at the end of the period was £32.3m compared to £75.3m the same date the previous year.
The share price rose 1.42% to 2,789p by 11:19.
NR
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published