- McKay Securities, the real estate investment trust (REIT) specialising in South East and London office and industrial property, has announced that for the year ended 31 March 2015 adjusted profit before tax was up 69.2% to £5.79m (31 March 2014: £3.42m).

It said it had made substantial progress made with development and refurbishment projects, including the letting of 66 Wilson Street, London EC2.

Five properties had been acquired over the period at a total cost of £51.54m.

There had been a 38.6% increase in overall portfolio value to £352.76m (31 March 2014: £254.55m).

The total dividend for the year is 8.7p per share (31 March 2014: 8.6p per share).

David Thomas, chairman of McKay Securities PLC said, "We set out our strategy for growth at the time of the £86.71m capital raising in February 2014. Its implementation over the last year has delivered a significant increase in the value of our portfolio, strengthened our income profile and improved the prospects for enhanced returns for shareholders in future years."

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