- Warehouse REIT booked a 74% fall in first-half profit, owing to losses on the revaluation of investment properties.

Pre-tax profit for the six months through September fell to £2.8m, down from £11.0m on-year.

Revenue rose to £13.6m, up from £10.7m, and operating profit before losses on investment property valuations rose to £9.7m, up from £5.0m.

Warehouse REIT held its interim dividend steady at 3.0p per share.

'We have continued to successfully execute the strategy we set out at IPO, adding value to the portfolio through active asset management and successfully investing the proceeds of the April 2019 equity issue in line with our forecast timeframe,' chairman Neil Kirton said.

'These actions have further enhanced the tenant covenant portfolio and the duration and quality of our income stream, underpinning our ability to pay attractive dividends to shareholders.'

At 9:29am: [LON:WHR] Warehouse Reit Plc share price was -2.5p at 106.5p

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