(Alliance News) - Helical PLC on Tuesday said its profit and revenue fell in its first half, but added it is seeing "strong demand" for its office space.
The London-based property investment company said its pretax profit in the six months to September 30 fell by 44% to GBP17.2 million from GBP31.0 million a year ago. Revenue declined by 6.5% to GBP23.5 million from GBP25.1 million.
Helical's EPRA net tangible asset value per share fell 3.3% to 553 pence from 572p in March.
It declared an interim dividend of 3.05 pence, up 5.2% from 2.90 pence.
"We are seeing strong demand from tenants for best-in-class office space, as evidenced by the Partners Group letting at The JJ Mack Building, EC1. We believe there is an intrinsic shortage of this top quality space as demand exceeds supply over the short and medium term," said Chief Executive Gerald Kaye.
Shares in Helical were up 1.0% to 353.00 pence in London on Tuesday morning.
By Greg Rosenvinge; gregrosenvinge@alliancenews.com
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Helical Bar (HLCL)