StockMarketWire.com - UK-focused office and industrial property investor McKay Securities booked a fall in first-half profit after asset sales shrunk its rental income

Pre-tax profit for the three months through September fell 31% to £11.4m, as rental income slipped 7.6%.

Rental income rose 6.2% after after adjusting for losses from disposals and planned development activity.

McKay left its interim dividend unchanged at 2.8p per share.

'Our active focus on the office and industrial markets of London and the South East continues to drive outperformance,' chief executive Simon Perkins said.

'We delivered further growth in capital and rental values during the period and continue to work on the release of our 23% portfolio reversion.'

'We see sustained levels of demand from a range of investors and occupiers supporting this, despite the economic and political uncertainty surrounding Brexit.'

'Although the commercial property sector exists in an uncertain operating environment, McKay's markets remain underpinned by strong fundamentals.'

'Recent lettings have de-risked our office development programme, and we are well positioned to deliver further growth in a measured fashion from the significant reversion within our portfolio and from our warehouse development at Theale.'





At 8:12am: [LON:MCKS] McKay Securities PLC share price was +4.5p at 259.5p



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