AEW UK REIT PLC - London-based real estate investment trust for UK regional commercial property - Posts higher net asset value in the year ended March 31. Net asset value rises 22% to 120.63 pence per share from 99.15p a year ago and to GBP191.1 million from GBP157.1 million. Net asset value total return jumps to 30% from 15%.
Firm declares an 8.0 pence dividend, unchanged from a year ago. Pretax profit doubles to GBP46.7 million from GBP22.2 million in 2020.
Company says high inflation and war in Ukraine "may further damage consumer and investor sentiment as real income and wealth levels are reduced." It adds: "We consider that bond yields are likely to remain low with central banks reluctant to push economies into recession, particularly in times of war."
Current stock price: 117.09 pence, down 1.1% on Wednesday
12-month change: up 23%
By Tom Budszus; tombudszus@alliancenews.com
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Aew Uk Reit (AEWU)