StockMarketWire.com - Circle Property said its first-half profit fell, owing to losses on the value of investment properties. For the six months to 30 September, pre-tax fell to £1.11m from £13.7m on-year. Rental income, however, rose to £3.3m from £3.1m. The company reported a £390.3K loss on the revaluation of its investment properties, compared with a gain of £11.73m on-year. Its net asset value per share rose to £2.78, up from £2.75 at the end of September. Circle Property declared an interim dividend of 3.3p a share, up 10% on-year. 'In the six months ended 30 September and post period end, we have been investing in the pipeline, increasing our rental growth and we are on track to deliver expectations for the full year,' Circle Property said.

Story provided by StockMarketWire.com