- Irish commercial property investor Yew Grove REIT said its performance improved in the first half as it boosted rent collections.

The company's EPRA net asset value per share -- a preferred measure of underlying performance -- rose 3.8% to 103.98c.

Annualised rent roll rose €7.5m, up from €6.3m at the end of December, rising to €8m following three acquisitions after period end.

Quarterly dividend payments commenced, with a total aggregate year-to-date dividend distribution per share of 4.33c for 2019.

'In just over a year since our IPO we have made significant progress on our objectives,' chief executive Jonathan Laredo said.

'We have committed the capital raised in 2018 and established a €100m share issuance programme of which €10m has been placed and deployed alongside additional debt capital.'

'We have commenced quarterly distributions to our shareholders; we have a number of asset management projects underway; and we have a strong pipeline of investments to deliver our investment targets.'

At 2:52pm: [LON:YEW] Yew Grove Reit Plc Ord Shs Eur0.01 share price was +0.02p at 0.97p

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