Redefine Distrabutable earnings up 29.9% toGBP 39.1m
Category Property Fund News
Redefine International plc (RPL) has reported a 29.9% rise in earnings available for distribution to £39.1m in the year to August from a year ago. The company said on Wednesday that distributable rental income was up £19.1m largely due to the acquisition of the CMC portfolio‚ Weston Favell and the restructuring of the Aviva shopping centre portfolio. The final dividend of 1.70p per share was declared‚ bringing the total dividend to 3.20p‚ up 2.9% from the year-earlier period. “The overall business environment in which we operate has turned positive‚ notwithstanding ongoing concerns relating to weak economic fundamentals in the eurozone‚ deflationary expectations and the interest rate cycle‚” CE Mike Watters said in a statement.
Author: Redefine International
