StockMarketWire.com - German business park investor Sirius Real Estate upped its annual dividend 6.4% after it boosted its profit on the back of asset valuation gains and increased rental income.

Sirius declared a final dividend of 1.98c per share, up 10% year-on-year, bringing the total dividend for the year through March to 3.8pc, up from 3.57c.

Pre-tax profit jumped 48% to €163.7 million, up from €110.8 million, and included €103.9 million of gains from property revaluations.

Annualised rent roll climbed 7.6% to €97.2 million reflecting organic growth and the net effect of acquisitions and disposals.

On a like-for-like basis, annualised rent role rose 5.2%.

'Against the challenging backdrop of the pandemic, Sirius has delivered a set of strong results,' chief executive Andrew Coombs said.

'Despite the continued degree of market uncertainty as a result of the pandemic, more confidence is breathed into the market every day as the vaccine is rolled out successfully in Germany and across Europe.'

'We have ended the year with a strong balance sheet which will allow us to take advantage of acquisition opportunities as they arise and continue to grow income and capital values through selective investment.'

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