StockMarketWire.com - Property investor LXi REIT said its first-half profit almost doubled amid a rise in rental income and upward revaluation of its assets.
Pre-tax profit for the six months through September rose to £33.8m, up from £17.1m on-year.
Rental income more than doubled to £16.7m, up from £8.3m and the company achieved a net asset value total return of 6.8%.
LXi REIT declared an interim dividend of 2.875p per share, up from 2.750p on-year.
'This has been another busy and successful six months, delivering transformational growth and return outperformance,' chairman Stephen Hubbard said.
'The secure income and capital growth of our portfolio has provided a total NAV return of 6.8%, significantly ahead of target, and we are on track to meet and fully cover our 5.75p dividend target for the full year.'
At 2:57pm: [LON:LXI] LXI Reit Plc share price was +2.3p at 127.1p
Story provided by StockMarketWire.com
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