- Alpha Real Trust Limited said its net asset value per share fell during the first half of its financial year following the sale of its Birmingham site and the final asset in its UK industrial portfolio.

It said its NAV value per share was 211.1p as at 30 September, down from 213.7p on 31 March.

Alpha Real Trust targets investment, development, financing and other opportunities in real estate, real estate operating companies and securities and real estate services. It also invests in infrastructure, infrastructure services, other asset-backed businesses and related operations and services businesses that offer attractive risk-adjusted total returns.

The trust said its net asset value was £127 million for the six months ending 30 September, up from £125.4 million the previous year.

During the six months to 30 September it sold its Unity and Armouries development site in Birmingham for £4.5 million book value and the final asset in the UK industrial portfolio for £3.8 million, a price marginally ahead of book value.

David Jeffreys, chairman of Alpha Real Trust, said: “Alpha Real Trust is committed to its disciplined strategy and investment principles which focus on opportunities that can deliver high risk adjusted returns, while seeking to manage risk through a combination of operational controls, diversification and defensive return structures.

"We are taking a cautious approach to new investment, including new lending, as we see how Covid-19 unfolds. This cautious approach, while conserving cash, is likely to significantly reduce earnings in the current year."

At 1:08pm: [LON:ARTL] Alpha Real Trust share price was 0p at 151.5p

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