(Alliance News) - Real estate investment trust Segro PLC Thursday said its profit and assets grew in a "strong" first half for the company.
London-based Segro reported pretax profit of GBP1.41 billion in the six months that ended June 30, up sharply year-on-year from GBP221 million.
The trust's portfolio value rose 10% as at June 30 to GBP14.45 billion from GBP13.00 billion at the end of 2020.
Net asset value per share also increased, jumping 11% to 897 pence at June 30, from 809p on December 31, 2020.
The real-estate trust raised its interim dividend by 7.2% to 7.4 pence from 6.9p.
In keeping with company policy, the interim dividend has been set at one-third of last year's full year dividend of 22.1p.
Segro said it is: "Positioned well for further growth, benefiting from a unique portfolio of assets and a development pipeline located in areas which are highly sought after and where land is in increasingly short supply."
"We remain confident in the outlook for the remainder of 2021 and beyond given the strong levels of occupier demand and the competitive position of our business, but remain alert to macro risks, not least the ongoing Covid-19 pandemic," the company added.
Shares in Segro were trading down 1.7% at 1,185.00p each in London on Thursday.
By Scarlett Butler; scarlettbutler@alliancenews.com
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Segro (SGRO)