(Alliance News) - Alpha Real Trust Ltd on Friday said the company was in "robust" financial position with a sharp rise in profit in its most recent financial year.
Alpha Real Trust is a Guernsey-based property finance investor.
As at March 31, the company's net asset value stood at 216.0 pence per share, compared to 207.7p on the same date a year ago.
Pretax profit for the year ended March 31 surges to GBP8.5 million from GBP96,000 the previous year as revenue inched up to GBP5.5 million from GBP5.3 million.
Chair William Simpson said: "As inflationary pressures increasingly dominate the economic backdrop in which the Company operates, ART remains on a robust financial footing and is well placed to capitalise on new investment opportunities.
"The company is currently focussed on continuing to grow and diversify its loan portfolio and also on its wider investment strategy which targets investments offering inflation protection via index linked income adjustments and investments that have potential for capital gains."
Alpha declared an annual dividend of 4.0 pence per share, unchanged from 2021.
Alpha shares were down 2.1% at 143.00 pence each on Friday afternoon in London.
By Xindi Wei; xindiwei@alliancenews.com
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Alpha Real (ARTL)