StockMarketWire.com - Property investor Derwent London raised its dividend, but continued to opt for caution on its outlook after swinging to a loss in the first half of the year.

For the six months ended 30 June, the company reported a loss of £14m, compared with a profit of £130m on-year as net income fell to £86.5m from £88.5m.

The portfolio was valued at £5.4bn, an underlying valuation decrease of 0.9%.

EPRA earnings fell to 48.9p per share from 51.3p.

The company increased the interim dividend 4.8% to 22p per share.

'In the short term, we are still to see the impact of the Government withdrawing furlough support and the terms by which the UK leaves the EU at the beginning of 2021,' the company said.

Derwent London also announced that Simon Silver, executive director, would be retiring from the board with effect from 26 February 2021.


At 8:10am: [LON:DLN] Derwent London PLC share price was +9p at 2973p



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