(Alliance News) - Mountview Estates Ltd on Thursday said performance in the first half of its year has been solid despite uncertainty over Brexit.
The property manager reported a 1.0% decline in revenue for the six months to September to GBP29.9 million, but pretax profit climbed 9.4% to GBP17.4 million.
Profit was helped by the cost of sales falling more sharply than revenue, as well as a gain on the sale of a property.
Southgate, London-based Mountview maintained its interim dividend at 200 pence per share.
"The uncertainty surrounding Brexit continues, and whilst the company is perhaps less vulnerable than most businesses to the economics of the rest of Europe, we all need the stability of an economy with a long term strategy," said Chief Executive Duncan Sinclair.
"Happily the figures all show increases, and we continue to make good purchases. The company has low gearing and remains financially sound," Sinclair added.
"With continuing good purchases and sound financial planning, the company is well placed to take advantage when the country's economic strategy can be planned with greater certainty," he concluded.
Shares were 2.2% lower on Thursday afternoon in London at a price of 11,100.00 pence each.
By George Collard; georgecollard@alliancenews.com
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Mountview Est. (MTVW)