UK residential property owner Grainger said net profit for the six months to end-march fell by 66%, blaming the fall on the non-recurrence of gains booked in the year-earlier period. Net profit came in at £ 8.7 mln (EUR 12.84 mln), or 6.67 pence per share, from £25.8 mln, or 19.8 pence a year earlier.
UK residential property owner Grainger said net profit for the six months to end-march fell by 66%, blaming the fall on the non-recurrence of gains booked in the year-earlier period. Net profit came in at £ 8.7 mln (EUR 12.84 mln), or 6.67 pence per share, from £25.8 mln, or 19.8 pence a year earlier.
Net asset value fell 1.6% to 479 pence per share, from 595 pence at end-September 2006. Profit from the sale of properties dropped to £26.9 mln, compared with £33.8 mln a year earlier. Revenue in the period to end march dipped 11% to £93 mln.
