StockMarketWire.com - Office rental group Workspace swung to a modest first-half profit and reinstated its interim dividend, after an easing of pandemic lockdowns helped boost rental income.

Pre-tax profit for the six months through September amounted to £3.4 million, compared to a year-on-year loss of £110.4 million.

Workspace reinstated its interim dividend at 7p per share.

Like-for-like rent roll rose 2.1% to £87.3 million, with like-for-like occupancy up 3.7 percentage points to 85.6%.

Workspace said 97% of rents due for the first half had been received as at 9 November.

'As our half year results show, those who predicted that the pandemic would lead to the end of the office are being quickly disproven,' chief executive Graham Clemett said.

'Our performance highlights that with the right space in the right locations and a flexible, customer-centric offering, businesses still believe they do their best work together.'

'We are excited by the significant growth opportunities in front of us, and the plans we have in place to capture them.'



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