LONDON (Alliance News) - Green REIT PLC, an Irish property investment company, said it made a EUR43.1 million net profit from its incorporation on June 24, 2013 to June 30, 2014.
Green REIT said it will pay a 0.92 cent per share dividend, some EUR6.1 million. It reported a EUR727.8 million net asset value, equating to 109.1 cents per share.
In a statement, Chairman Gary Kennedy said the board thinks the company is "well positioned" for the future, after assembling a "highly attractive" portfolio of properties.
The real estate investment trust has a portfolio of 17 properties, with a further six contracted at the end of June. It has invested or committed to invest EUR749.0 million in the process.
"With improving economic conditions in Ireland, particularly in Dublin, the board believes that the company will continue to deliver strong shareholder returns," Kennedy said.
"The company is committed to the generation of strong rental income and capital growth through the active management and development of its portfolio of properties. We look forward to the year ahead as we build on our initial successes," Kennedy said.
Green REIT is managed by Green Property REIT Ventures Ltd, led by Stephen Vernon and Pat Gunne.
Green REIT shares were Monday quoted flat at EUR1.30.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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