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TR Property Investment Trust Turns To Full-year Profit On Investment Gains

By RTTNews Staff Writer   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

TR Property Investment Trust PLC (TRY.L) Monday reported profit before tax of 198.58 million pounds for the full year compared with loss before tax of 543.67 million pounds in the previous year, primarily helped by gains on investments.

The company had gains on investments held at fair value of 160.79 million pounds compared with loss of 549.43 million pounds a year ago.

Total comprehensive income was 196.35 million pounds compared with 547.27 million pounds loss in the prior year. Earnings per share was 61.87p versus 172.45p in the previous year.

Revenue EPS declined to 12.04p from 17.22p.

Investment income, however, declined to 39.96 million pounds from 52.08 million pounds last year.

Total income was 224.39 million pounds compared loss of 529.49 million pounds in the previous year.

Net asset value per share increased 15.2 percent year-on-year to 351.10p from 305.13p.

The company's Board has proposed a ?nal dividend of 10.05p per share payable on August 1 to shareholders on the register on June 28.

Looking ahead, Kate Bolsover, Chairman said, "We anticipate that underlying income will take some time to recover but with strong revenue reserves built up, the Board is able to support the company's dividend.... We are pleased to announce a very modest increase in the final dividend to 10.05p, bringing the full year dividend to 15.70p, an increase of 1.3%."

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