Harworth's triple net asset value per share, its main metric, rose by 13% to
Triple net asset value is net asset value adjusted to reflect the fair value of debt and derivatives, and to include deferred taxation on revaluations.
Value gains, including development properties, rose by 8.6% due to strong planning, lettings & sales progress, and uplifts from acquisitions made during 2017, Harworth said.
Profit excluding value gains was flat for 2017 at
Pretax profit for the year fell slightly to
The company increased its final dividend to 0.575p per share compared to 0.523p. The total for 2017 is thus 0.828p, a 10% rise year-on-year.
Looking ahead, Harworth said it is "well positioned" for the future, with the core markets of the north of
The company said 2018 has begun "strongly", with over 50% of expected sales for the year already agreed.
Chief Executive Owen Michaelson said: "These are another strong set of results where we have again delivered double digit EPRA NNNAV growth, reflecting our continued ability to maximise the value of our portfolio whilst simultaneously growing our strategic land-bank and income base through acquisitions and new lettings.
"Our focus, on the 'beds and sheds' sectors in the North of
Harworth shares were up 3.2% on Tuesday at 109.90p each.