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(Alliance News) - Tritax EuroBox PLC on Tuesday reported a mid-single-digit increase in net asset value for the first half of its current financial year.
The company, which invests in logistics real estate assets, reported a 2.7% increase in basic NAV per share to EUR1.16 as at March 31 compared to EUR1.13 as at the end of September 2019.
Tritax EuroBox said it will be paying a dividend of 2.20 cents a share for the six months to the end of March. In addition, the company declared a payout of 1.10 cents a share to be paid in mid-June.
The company said its portfolio was independently valued at EUR819.4 million as at March 31, up from EUR691.7 million at the end of September 2019, reflecting a like-for-like uplift of 2.6% in the period.
"The company had a positive six months, notwithstanding the outbreak of the Covid-19 pandemic in Europe in the final weeks of the period. We continued to implement our strategy successfully and delivered financial performance in line with our expectations," said Chair Robert Orr.
"Our close relationships with all our tenants and the asset management opportunities embedded within the portfolio should underpin continued growth in income and capital values. We remain confident that our platform is scalable and is underpinned by a strong and flexible capital structure," added Orr.
Tritax EuroBox shares were trading 7.1% higher in London on Tuesday afternoon at 84.80 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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