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Daejan dives into the red

Wed, 15th Jul 2009 17:50

Property group Daejan Holdings slumped into the red in the year to end-March after taking a £262m hit on the value of its properties.In the year to 31 March 2009 the company made a loss before tax of £248m, versus a pre-tax profit the year before of £47.1m.Gross rental income rose to £83.9m from £73.6m."Our core rental activity remains strong and this enables the board to recommend a final dividend of 48p per share in respect of the year ended 31 March 2009," the company's chairman B S E Freshwater said.Total dividends for the year remain unchanged at 73p.

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Daejan delivers higher full-year earnings

The sale of investment property and an increased portfolio value helped drive a strong rise in annual profits at Daejan Holdings. According to its preliminary results for year ended March 31st, pre-tax earnings jumped from £111.68m to £164.51m on almost flat rental income of £112.20m (2013: £111.

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