Schroder European Real Estate Investment Trust PLC - London and Johannesburg-listed property investor - Says its net asset value per share decreased by 3.4% to 136.0 euro cents as at December 31, driven primarily by a fall in the valuation of the investment property portfolio. The direct property portfolio was independently valued at EUR211.5 million, reflecting a like-for-like decrease of 3.3%, or EUR7.2 million, for the first quarter to December 31. The company has a 50% interest in a joint venture in Seville, which continues to be recognised at nil interest.
Schroder European Real Estate also says it will keep its first interim dividend at 1.85 euro cents for the financial year ending September 30. The payout will be made on May 5.
Current stock price in Johannesburg: ZAR18.25, unchanged on Thursday
s12-month change: down 11%
Stock price close in London: 81.87 pence
12-month change: down 25%
By Artwell Dlamini, Alliance News reporter
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Schroder Eur.r (SERE)