StockMarketWire.com - Circle Property's regional office portfolio continued to deliver strong income, NAV and profit growth in the year to the end of March.

The group saw a 19.7% increase in the value of the portfolio of 15 UK investment properties to £93 million (31 March 2016: £77.7 million) which, it said, was resulted primarily from itssuccessful asset management initiatives.

And there was a 19.9% growth in EPRA NAV per share to £1.83 (31 March 2016: £1.53 per share).

Chief executive John Arnold said: : "Our first full year as a public company has been one of significant growth and success.

"We have delivered strong results across all key metrics and further crystallised the value in the portfolio through our asset management expertise, leading to an impressive uplift in value of 19.7%.

"Despite ongoing uncertainty as a result of the general election in June, our portfolio is well positioned to resist any potential headwinds due to its distribution in strong and undersupplied regional business markets, such as Birmingham and Milton Keynes, and the proven management abilities of our team.

"Therefore, our focus remains in understanding and meeting the requirements of these occupiers, thereby continuing to maintain our liquidity and deliver meaningful value to our shareholders.

"To this end, we look to the year ahead with confidence and are working to progress our current pipeline of asset management opportunities, whilst also exploring ways to undertake new acquisitions and grow our portfolio."




At 8:06am: [LON:CRC] Circle Property Plc share price was +3.5p at 157p



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